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Application 2018-08 - Judgment of 19 April 2019
The applicant was elected as the President of the Bank for a term of 5 years from 1 September 1976 until 31 August 1981. On 28 June 1979, the Board of Directors unanimously resolved to terminate his appointment as President. The Board of Governors, however, adopted a resolution in which they, among others, annulled the decision of the Board of Directors to terminate the applicant’s contract. The Board of Governors’ decision followed an extra-ordinary meeting which they held from 23-25 July 1979 at which it was determined that the Board of Governors had the sole prerogative to terminate the appointment of the President. On 5 September, 1979, the Chairperson of Board of Governors (Chairperson), advised the applicant that the Board of Governors had taken a “political decision” to place him on indefinite, fully paid leave with all benefits until 31 May 1980.