Piercy steps down from Water Authority

Effective 1 September, Johnathan
Piercy is no longer chair of the Water Authority board.

“I am stepping down for personal
reasons and I wish the authority all the best,” he said.

He said the decision was not in any
way related to government’s recent announcement that it is going forward with
its intention to lease the asset as a way of generating revenues and to
facilitate much-needed upgrades.

Consolidated Water, the water
company that supplies West Bay and Seven Mile Beach through its wholly owned
subsidiary Cayman Water, has expressed interest in leasing the Water Authority.
At the same time, Consolidated Water has been in negotiations with Government
over a new licence since June 2008, recently receiving a three-month extension
to its licence as negotiations continue.

MLA Cline Glidden said Mr. Piercy’s
departure will not affect any of the Government’s plans for the Water
Authority. 

The Water Authority, Cayman is a
statutory authority, which means it is a separate entity that is overseen by a
government-appointed board.

“As the government is the whole
shareholder of the Authority, we make the decisions, while the board oversees
the entity,” said Mr. Glidden.

Any decisions about the Water
Authority’s contracts and future rest with Government, while the board manages
the Authority according to Government’s wishes.

He said Government will appoint a
new chair as soon as someone of Mr. Piercy’s calibre is found. At press time,
an acting chair had not been identified.

“We value Mr. Piercy’s input and
experience, we appreciate what he has done and the sacrifice he has made in
holding the post,” said Mr. Glidden.

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