WILLEMSTAD – Patrick Newton will step down as Chief Executive Officer of 2BAYS effective November 1, 2026, after reaching the maximum age permitted for the position under the company's statutes. The announcement comes as the government-owned company continues its efforts to reactivate and transform the former refinery facilities at Emmastad and Bullenbaai.
Newton confirmed his departure in a letter addressed to employees of Curaçao Refinery Utilities (CRU), explaining that the company's statutory age limit prevents his appointment as CEO from being extended.
Patrick Newton
Although he will no longer serve as chief executive, Newton will remain involved with 2BAYS as a special adviser to management. He will also be responsible for specific assignments, allowing the company to continue benefiting from his experience, expertise, and professional contacts.
In his letter, Newton emphasized that the leadership transition will not affect the company's strategic direction or ongoing activities.
Percy Snel, Vice Chairman of the Supervisory Board of 2BAYS, will temporarily serve as the company's authorized representative, with the authority to act and sign documents on its behalf.
Snel will work closely with the management teams of 2BAYS and CRU to ensure that daily operations continue without interruption during the transition period.
He will remain in this role until a permanent CEO has been appointed.
According to Newton, 2BAYS will soon begin the process of searching for a new chief executive to lead the company through its next phase.
The leadership change comes at an important time for 2BAYS, which is responsible for activities involving the former refinery infrastructure and industrial facilities at Emmastad and Bullenbaai.
The company has been working on plans to reactivate and transform these locations as part of the Curaçao government's broader objectives for the future of the former refinery properties.
Newton assured employees that these efforts will continue despite his departure from the CEO position.
"The leadership change does not alter the direction of 2BAYS," Newton stated in his letter.
He emphasized that the company remains committed to implementing its plans and carrying out the responsibilities assigned to it by the Curaçao government.
The transition also has significance for CRU, which operates within the 2BAYS structure and has been closely involved in activities connected to the refinery facilities.
In his message, Newton expressed appreciation for the dedication and cooperation of CRU employees during his tenure.
He thanked staff members for their commitment, hard work, and contributions to the company's operations and future development.
"Your work is important for CRU and for the future we continue to build together," Newton told employees.
The announcement confirms that Newton's departure from the CEO position is the result of the company's statutory age requirements rather than a change in its operational strategy.
No date has yet been announced for the appointment of a permanent successor.
In the meantime, Snel will oversee the authorized representation of 2BAYS in cooperation with the existing management teams, while Newton continues supporting the company in an advisory capacity.