Leadership transition at Arubus N.V.

Arubus N.V. has faced various grave challenges in recent years, leading to the resolution to reorganize the state-owned public transportation company to achieve long-term stability and efficiency. Several studies conducted by, among others, Algemene Rekenkamer (General Audit Chamber), CAft, Price Waterhouse Cooper, and the government on the financial state of the transportation company indicate that the company is bankrupt. For the Ministry of Transport, this is the reason to change the course of Arubus N.V. The first step was to thank Mr. Edwin Mohamed for his years at the helm of Arubus N.V. while simultaneously terminating his position as director.

The Supervisory Board received a letter from the government of Aruba requesting a complete reorganization with the participation of the employees. According to the ministry, a comprehensive restructuring of Arubus N.V. is necessary for its recovery.