This development comes two weeks after Herbert, along with two employees of GEL, appeared in court charged with a number of marijuana related charges including trafficking, importation and intent to supply for 267 pounds with an estimated street value of $534,164 BDS.
Herbert was granted bail in the sum of $400 000.
Herbert also resigned from his position as Chairman of the Barbados Private Sector Association (BPSA) on August 3.
The statement said GEL has assured its stakeholders and the general public of its continuing adherence to the highest standards of corporate governance and probity in its business and operations.
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