The Board of Directors of OfReg, the multi-sector regulator of the Cayman Islands, have appointed Mr Duke Munroe and Mr Gregg Anderson as Acting CEO’s on a rotational basis until a permanent CEO is appointed. The appointment mimics the Co-CEO model which is becoming a widely used concept across a number of organisations globally.
Earlier this month, OfReg bid farewell to its inaugural CEO, Mr J Paul Morgan, who completed his contractual period that ended on 6 August 2018. The recruitment process for the position is in full swing with a number of strong candidates having put themselves forward. Mr Christen Suckoo was also recently announced as the Chief Operating Officer, who will provide public administration support and management of internal operations.
The current Acting CEO Mr Duke Munroe, who is also the Chief Fuels Inspector and Director – Fuels Market, came to OfReg from core government, where he headed the Petroleum Inspectorate Department, the agency responsible for safety and compliance, as well as advising government on broad matters related to the fuel sector. His primary role under OfReg is to oversee all aspects of the fuel sector, having extensive regional background in the oil and gas industry.
Mr Gregg Anderson, MBA, CMC, CAMS, BSc. (Hon), is the Executive Director Energy and Utilities at OfReg and sat on the OfReg board as Deputy Chair prior to that appointment. Mr Anderson is an entrepreneur, having owned companies offering non-executive directorship and business consulting services for the past 15 years. Prior to going into business for himself, he was Head of Sales at Cable & Wireless and was the President and CEO of CBS Ltd.
The appointments saw the creation of an interim management committee comprising the Heads of Sectors and Departments to support the Acting CEO during this transitional period. This approach will provide stability and consensus for operations and overall management, while each executive director retains responsibility to manage their own teams and the regulatory work being done by them.
The Acting CEO’s affirmed their joint commitment to remain focused on positively developing the regulatory landscape in Cayman by providing world-class consumer protection and safety in the areas in which it operates: fuels, energy, including water and electricity and information communications technology (ICT).
Mr Duke Munroe said: “Work continues in all of the four sectors OfReg regulates, ranging from the advances in the discussion on ensuring comparative high quality tri-Island-wide broadband connectivity and choice, optimum fuel pricing for motorists, assessment and analysis relating to licensing and relicensing negotiations for a number of key licensees, and alignment of some of the sectors within OfReg’s regulatory model. A public consultation on the water sector regulations has been recently issued and the public is expected to weigh in on this as these are the topics which impact our everyday lives”.
He goes on by saying: “All of us at OfReg are personally committed to our vision and in turn to ensure that all members of Cayman’s public are protected and have access to the very best in choice, quality products and services”.
The Acting CEO’s have also reaffirmed their commitment to further educate the public about the sectors that OfReg regulates, informing them of the latest developments in those areas, what that means for consumers, about consumer rights and responsibilities and to being responsive to their needs.
For more information on the sectors that OfReg regulates, visit www.ofreg.ky.