Zminijietna - Voice of the Left has criticised government’s decision to abolish the post of worker-director at Bank of Valletta.
The position has been in force since the bank’s nationalisation in 1973, with bank employees electing the director internally. Government says it wants this director to be replaced by its own appointee.
Zminijietna asked whether the move is related to the possibility of privatising the the government’s 25% shareholding in BOV, saying all other worker-directors had been removed prior to privatising state entities.
“The selection of the person occupying this position should be made following a consultation process with the employees. This was the practice at BOV where the shareholder (the government) is given a list of three names, namely the three persons who got the most votes in the election for worker-director. The terms of reference of the responsibilities of the worker-director should be defined, so that his functions are clearly delineated and that consequently he does not involve himself in trade union matters, but works for more transparency, accountability and improvement for all stakeholders within the company.”
Zminijietna said European countries such as Germany, Sweden, Denmark and Finland support the position of a worker-director.
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