WILLEMSTAD – The Supervisory Board Advisor (SBTNO) is calling on Curaçao's ministers to move quickly to fill dozens of vacant supervisory board positions while ensuring that future appointments are based on qualifications rather than convenience.
In addition to highlighting the large number of vacancies at government-owned companies and foundations, SBTNO said it continues to encounter problems with the quality of candidates nominated for supervisory board positions.
According to the watchdog, it regularly issues formal objections because proposed candidates do not meet—or only minimally meet—the qualifications and competency requirements established for the positions.
SBTNO stressed that supervisory board members should possess the necessary knowledge, professional experience and competencies required to effectively oversee public entities.
The advisory body is urging ministers to fill all outstanding vacancies as soon as possible with qualified candidates who meet the established profiles for each position.
It also emphasized that every nomination should be properly substantiated and accompanied by the relevant job profile and the supervisory board's rotation schedule.
According to SBTNO, timely appointments are essential to maintaining sound corporate governance within government entities.
The organization warned that weak or incomplete supervisory boards can lead to inadequate oversight, less careful decision-making and increased risks for the organizations they are meant to supervise.
SBTNO's recommendations come as concerns continue to grow over governance standards and accountability at several government-owned companies and public foundations across Curaçao.