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Member, Beacon International Group, Ltd.
HAMILTON, BermudaThe Bermuda Monetary Authority on Monday said its chairman and chief executive officer, Cheryl-Ann Lister, has agreed to extend her stay as CEO of the regulatory body on an interim basis.
Ms. Lister, who has led the BMA since 1999, announced in October that she planned to step down from both posts at the end of 2006, upon the expiration of her current contract with the BMA.
In a statement, the BMA said: "The BMA board of directors are currently conducting the recruitment and selection process for a new CEO. Mrs. Lister will provide continuity in that position through the transition period."
The interim arrangement will be effective as of Jan. 1, 2007, the statement said.
Under Bermuda law, the country's finance minister is charged with appointing a nonexecutive chairman to the BMA board.