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Ports chief Lee Cabrera steps down
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Posted on Jun 02 2008
The management turnover at the Commonwealth Ports Authority continues, as acting executive director Lee Cabrera becomes the third top official to leave in one year.
Cabrera will step down from his post on July 31, 2008. He has worked in government for about 15 years, spending the last seven with CPA. He plans to join the private sector after his early retirement.
Cabrera said that CPA’s financial troubles have nothing to do with his decision. He made up his mind in early April 2008, which is before Gov. Benigno R. Fitial suspended the CPA board of directors and took over the ports authority to stave off a technical default in its airport revenue bond.
Cabrera was put in charge of the ports authority, while the governor supervised.
“I could stay,” said Cabrera, “but the situation at the Retirement Fund really worries me. We don’t put in years of government service only to be told that there might not be any money for us to retire from.”
According to the NMI Retirement Fund, the pension fund will only last another 10 years if the lack of cash inflow forces the program to continue liquidating assets at the current rate of about $45 million a year.
CPA has had substantial turnover in key management personnel since Clyde Norita resigned in May 2007. Airport fire chief Stanley Torres took over from Norita, heading CPA until his resignation in January 2008. Cabrera, who officially heads the seaport division, was named to serve as executive director in an acting capacity.
The ports authority has also been without a comptroller since the resignation of George Palican in February 2007. Frances Mafnas currently serves as acting comptroller.
Several other key positions at CPA are vacant at present, leaving it unclear as to who might succeed Cabrera. CPA has no one occupying the positions of deputy director, airport manager, and seaport manager.
