NCB Financial Group has shared more insight into Michael Lee-Chin's decision to temporarily step aside from the company's board.
In a release Wednesday evening, the company said Mr. Lee-Chin has shared the need to step into an executive role within his organisation in Canada until he finds a replacement for his Chief Operating Officer, who is leaving after 25 years.
Radio Jamaica News has been informed that the decision is linked to the Mandeville Group of Companies, formed by Mr. Lee-Chin in 2012.
NCB's update also said Mr. Lee-Chin has specified interests in two areas of focus - precision oncology and clean energy.
The company had earlier announced that the billionaire businessman has taken a three-month leave of absence from NCB Financial Group Limited with immediate effect.
It said Mr. Lee-Chin has also taken time off from the boards of National Commercial Bank Jamaica Limited and Guardian Holdings Limited (GHL).
During the period of absence, the Board of NCB Financial Group will be chaired by its lead independent director, Professor Alvin Wint, while the Boards of NCB and GHL will continue to be led by their chairman Patrick Hylton.
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