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Blog Caribbean 5.0

Blog Caribbean 5.0

The Corporate Governane Crisis in Curacao

Posted on December 6, 2012 at 5:05 PM

What is happening in Curaçao? For more than two years all sort of strange things are happening in the area of Corporate Governance.  Not that it all started two years ago.  It started long before. Just a few recent examples: Aqualectra, Refeneria di Kòrsou and UTS.  Shareholder, supervisory board and management fighting over everything and the performance of the company heading downwards. What is the problem? What is the root cause? Is it the lack of knowledge? Poor values?  I am under the impression that people cannot handle power and money.  We see abuse of power and greed.  In this all the media is exposing the situations. But there must be a balance between transparency and privacy. I am left with the question: how it is this possible?  We have the best corporate governance legislation in the world. We had Good Governance training for members of the board.


The only good thing that is happing in the world of Good Governance on Curacao is the health care inspection. All institutions have been inspected. The problem is that the media and the public are focusing on the wrong point.  The is issue is not that there are issues.  Everybody makes mistakes and there is always room for improvement. The issue is that plans are formulated and that the process of improving has started. The Deming quality starts turning in the health care sector in Curaçao.


One wonders if Good Governance is possible in a small island society. The jury is still out on this question.  Health care inspection  makes the point that inspection should be done by people who have no ties to the island society.  I wish he was wrong. 

The effect of this that all systems in society are stuck.  But what is the solution? Training and education is the only solution.  But it is a longterm solution.

Categories: Caribbean Society 3.0, Corporate Governance

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