Caribbean Development Bank Announces Leadership Update; Dr. Hyginus Leon Steps Down as President, Isaac Solomon Appointed Acting President

The Caribbean Development Bank (CDB) has announced the conclusion of an internal administrative process involving Dr. Hyginus Leon, confirming that Dr. Leon is no longer the President of the Bank. As per the CDB’s founding agreement, Vice President (Operations) Isaac Solomon will serve as Acting President until a new President is elected.

Below is the full statement issued by the Caribbean Development Bank:

“The Board of Governors of the Caribbean Development Bank (CDB or the Bank) notes the closure of the internal administrative process involving Dr. Hyginus Leon and confirms that Dr. Leon has ceased to hold the office of the President of the Bank.

In accordance with the Agreement Establishing the Caribbean Development Bank, the Vice President (Operations), Mr. Isaac Solomon, will continue to exercise the authority and perform the functions of President until a new President is elected.

The process for the election of a new President has commenced, and the Board of Governors has been invited to submit nominations for the position of the President of the Bank by August 26, 2024. It is expected that the election process will conclude in October 2024.

CDB, under the direction of its Board of Governors and Directors, and through the leadership of its management and the efforts of its staff, continues to work fully and effectively together with its Member Countries and development partners to advance CDB’s mission of reducing poverty and transforming lives through sustainable and resilient development initiatives.”