Will the CEO of the Citrus Products of Belize Limited Henry Canton be given his walking papers by this time tomorrow? That's the question that's causing wild speculation across the citrus belt tonight.
An application by minority shareholder Banks Holdings to secure an injunction from the Supreme Court to block tomorrow's extraordinary meeting of CPBL failed this morning. That means that the meeting will most likely proceed and with the Citrus Growers holding controlling interests in the company - it likely means that Canton, the CEO since 2002 - will get the axe.
In defence of its position, the Citrus Growers Association sent out a release today stating that since 2007, under Canton's leadership, CPBL has seen a 27% downturn in profitability.
And so while the CGA resolution to tomorrow's meeting was that Dr. Henry Canton should be replaced by Henry Anderson - who is the CEO of the Citrus Growers Association - a serious wrench has been thrown into that plan. That's because yesterday Anderson sent a short letter to Denzil Jenkins - informing him that he is withdrawing his name from consideration as the interim CEO.
A major oops - but indications are that the plan to eject Canton will proceed as planned tomorrow - and the plan going forward as we understand it is that senior management will run the company and the board will still proceed with hiring a new CEO by advertising the post.
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And what about the executive intervention from the Prime Minister requested by the over 300 employees of CPBL that we told you about last night? Well, according to reports the Prime Minister has responded and told them that he cannot make a visit to the CPBL compound until January.
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