Lund leaves Bermuda Business Development Agency (Update)

Stephen Lund has stepped down as CEO of the Bermuda Business Development Agency after just seven months on the job.

His resignation becomes effective on February 28, 2014. Mr Lund was hired in June and started work in mid-August.

He was chosen to take the post after an interview process that saw 180 people apply for the new business.

The

Board Chairman of the Bermuda Business Development Agency (BDA), Mrs. Caroline Foulger, has today announced the resignation of Stephen Lund as Chief Executive Officer of BDA effective February 28, 2014.

David Cash, the BDA’s deputy chairman will fill the CEO position on an interim basis to allow the BDA Board of Directors time to appoint a new CEO.

Caroline Foulger, chair of the BDA, said in a release:  “We are grateful to Stephen for his service to the BDA and we thank him for his contributions to the organization.  The BDA is greatly changed from when Stephen joined the organization and he leaves us much strengthened from the time of his arrival.  We acknowledge Stephen’s personal decision to return home to Canada and we wish him well in his future endeavors.

“Turning to the future I am pleased to be able to announce that David Cash, the BDA’s Deputy Chairman, has agreed to serve as interim Chief Executive Officer The search for a suitable replacement is already underway and we are confident that the BDA will not miss a beat through this transition.”

Mr Cash said: “I respect Stephen’s decision to return home to Canada and his family and I wish to thank him for all his efforts to make this transition as seamless as possible.  Stephen has put in place a terrific group of professionals at the BDA and I am looking forward to working together with this team to execute our business development strategy in the marketplace.”