Sir Albert, who appeared with Chairman Hannes Babak on "Jones and Company", which aired on Sunday, explained that following the death of Edward St. George, one of the owners of the Port, the shareholders went through a period where they were trying to find a direction for the company.
"It was some time last year that they approached Hannes and asked him if he would come and be the chairman of the Port Authority," Sir Albert said.
"And I think they approached Hannes because weﾒve had a business relationship with Hannes Babak over the years and he has been an astute businessman in Freeport and [the owners] have agreed they would resign all of their positions in the various group of companies, make Hannes the chairman and ask me to serve for a time as the chief executive officer."
Sir Albert recognized as well that "this has created some waves in the community"
But he said this was understandable because Mr. Babak in many areas is an "unknown person."
"People wondered how he would adjust and what would be the future of the Port," Sir Albert continued. "When this all happened I said to my colleagues in the Port Authority that there would be dramatic changes and I meant just that. Hannes is a businessman. I believe his efforts should be concentrated on bringing in new investors.
"He has tremendous international contacts and we believe that his contacts together with the senior expatriate investors here in Freeport, that we will do some things the likes of which you have not seen in the recent past."
Sir Albert was defending Mr. Babak amid ongoing concerns and criticisms in some quarters that the Port Authority could have and should have found a Bahamian to replace Julian Francis, the former Central Bank governor who resigned as co-chairman and CEO of the Port in June, a year after he was appointed.
Two other Bahamian executives, Barry Malcolm and Willie Moss, soon left the Port, with Mr. Malcolm resigning and the Port announcing that it had made Ms. Mossﾒ position redundant.
As a guest on "Jones and Company", Mr. Babak was asked to respond to the criticism some people have that as a businessman in Grand Bahama, he could very well end up in a conflict of interest situation.
He explained that he had resigned "from all functions" in the other companies he had involvement in.
"I know very well this is a position where you have to be very clear and very open about what you are doing," Mr. Babak said. "So, there will never be the question of [whether I would] take advantage of it because I will not take advantage, for me personally, in the position I am [in]."
Sir Albert added that the new chairman has nothing to do with the licensing function of the Port, and said it was his responsibility as CEO.
"He doesnﾒt even see license applications," Sir Albert said.
Mr. Babak said he is the shareholdersﾒ representative and the CEO is the head of all management at the Port. He said that he will not interfere in the decisions being made by Sir Albert, and refused to call himself Sir Albertﾒs boss.
But Sir Albert said, "It is true that as the chairman he is head of the organization and I respect his position, but I am playing a very critical role in this organization, sometimes far more critical than I would like it to be because Iﾒve been called a number of things. Iﾒve been called the hatchet man and all these sort of things, but I think if he plays his role well I intend to do my share together with [other Port officials]."
He said the Port expects to turn Freeport around and the companyﾒs whole image has changed.
Sir Albert, meanwhile, explained that the Port has to become more "imaginative" in its approach to the City of Freeport.
He explained that the new plan involves, for example, creating a new cruise port as the Port feels that the cruise port and the industrial sector should no longer co-exist.
"We are out there with the new master plan trying to attract the second home investor," Sir Albert explained, adding that this also includes Bahamians interested in establishing second homes in the Grand Bahama.
"To me, that is the way to go in the future and we are ripe. We are promoting Grand Bahama not only as a place for investment, but a great place for second homes."
Asked where Bahamians fit into the "new Freeport", Sir Albert said there is still some misunderstanding about the city.
He said that when he came to Grand Bahama in 1971, the number of licensees in the Port Authority was 84 percent foreign and 16 percent Bahamian, but he said that percentage has been completely reversed.
"Freeport today is a Bahamian city," Sir Albert said. "Some people might not agree."
He recognized however that the major business is still in the hands of foreigners.
"The emphasis and the whole idea of this new master plan is to ensure that we are diversifying the area of Freeport," Sir Albert said. "We have plenty of land. We think the climate is conducive to investment and we are hoping that Mr. Babak with his tremendous international contacts can help the area by bringing in the right investment."
He also said there is no truth to the perception that foreign investors are receiving better treatment than Bahamians in Grand Bahama.
By: Candia Dames, The Bahama Journal
