DEALING WITH THE CODE; CORPORATE GOVERNANCE IN ST. MAARTEN

November 09, 2010 2:31 PM

On Friday, November 5, 2010, the seminar “Dealing with the Code” took place at Westin Dawn Beach Resort in Philipsburg, St. Maarten. The Corporate Governance Council St. Maarten, PwC, and law firm VanEps Kunneman VanDoorne took the initiative to bring this subject to people’s attention.

The organizers show with their experience and knowledge how Corporate Governance has to be interpreted, applied, and given substance.

Several speakers explained the new application of Corporate Governance in St. Maarten. Corporate Governance has a major impact on society. Corporate Governance is about the way in which the management in a company is organized. It is about processes, applicable regulations, and institutions. Furthermore, the relations between the various interested parties within a company are relevant. Striving for responsible management, in which all these components should be considered, should lead to good corporate governance.

St. Maarten has statutory corporate governance rules that apply to managing directors and supervisory directors of corporations and foundations. In addition, there are separate rules for so-called public corporations and public foundations. These rules concern subjects such as transparency of the company, independence of the persons involved, and rendering account. Managing directors and supervisory directors of these organizations thus face questions such as “How do you assure that the persons involved are indeed guided by the company’s interest in the execution of their tasks as managing director or supervisory director?”

The speakers Louis Duzanson (Corporate Governance Council St. Maarten), Frank Kunneman (VanEps Kunneman VanDoorne) and Petra Pupping (PwC) agree that Corporate Governance promotes the transparency within a company. No sanctions are required for Corporate Governance to be a succes. The sense of all managing directors and supervisory directors that responsible management is part of their daily work is sufficient for this purpose. And perfect managing directors and supervisory directors are not required for this, just managing directors and supervisory directors who know how to apply the rules of Corporate Governance.

V.l.n.r.: Eldert Louisa, CTO TELEM GROUP; Brian Mingo, CEO TELEM GROUP; Marlene Mingo, kandidaat notaris; Anne Marie Jeuken, staff member TELEM GROUP; Randolph Van Eps, VanEps Kunneman VanDoorne - Partner; Kimberley De l’Isle, VanEps Kunneman VanDoorne – Advocaat medewerker; Helma Ethel, CEO TELEM GROUP; Judy Hoeve, staff member TELEM GROUP; Francis (Gachie) Gijsbertha, Notaris

V.l.n.r.: Miguel de Weever, St. Maarten’s waarnemend Secretaris Generaal Economische zaken en Tourisme; Sherry Hazel, St. Maarten’s waarnemend Secretaris Generaal Financiele zaken; Hiro Shigemoto, St. Maarten’s Minister van Financien; Reynold Groeneveldt, St. Maarten’s waarnemend Gouverneur; Franklin Meyers, St. Maarten’s Minister van Economische zaken en Tourisme; Kendall Dupersoy, St. Maarten’s lid van de Raad van Toezicht TELEM GROUP

9 November 2010