Hannes Babak, Chairman of the Port Group Limited and former Chairman of the Grand Bahama Port Authority [GBPA], has resumed his post as GBPA chairman.
The Port Authority announced Friday that its board of directors has accepted Felix Stubbs’s resignation as GBPA Chairman.
Mr. Stubbs will continue as a director of the board of the GBPA.
"Working with the dedicated GBPA team has been a valuable experience for me and I hope I was able to provide a caring and supportive leadership over the past several months," Mr. Stubbs said in a press release.
"I believe, however, that it is in the best interest of the company for me to step down as chairman at this time. This would allow for better synergy in the leadership team and make it a lot easier to position the group of companies to create an environment for Grand Bahama to realise its full potential."
His decision to resign as Chairman was made after much careful consideration, Mr. Stubbs said.
He added, however: "I am comforted by the fact that the company is in great hands with its new leadership and I will continue to give advice on the future of the company as a director of the board."
The GBPA announced Mr. Babak’s appointment as PGL chairman last month.
The path for his return was made clear following the resignation of Erik Christiansen as PGL chairman earlier this year, and after a Supreme Court ruling late last year which denied an application that would have prevented Mr. Babak from holding any position with the GBPA and PGL.
