Unions object to removal of BOV worker-director

Two unions yesterday criticised the government's decision to remove the board director appointed by Bank of Valletta workers as from next year.

The General Workers' Union (GWU) and the Professional and Services Employees Union said the system had always proven to be a successful one and had consistently delivered good results.

Every year, BOV workers appointed a director to represent them at board level to ensure they had a say in the implementation of any proposed policies or amendments.

The GWU said it was informed of the government's decision by sources close to the bank. Moreover, it was never directly informed or consulted by the government, which was BOV's largest stakeholder.

Both unions said this was an unwise decision to take in light of the present global financial crisis and instability in the sector.

When contacted, a spokesman for the Finance Ministry said the government had long been feeling the need to increase its representation on the board. This, he added, was accentuated by the international financial situation. Moreover, the spokesman said, there was still one workers' representative on the board.

This was disputed by the GWU, which said the second worker had been elected on the board in an election and this post was not automatic.