Ross Webber has stepped down as chief executive of the Bermuda Business Development Agency.

The BDA announced today that Mr Webber left his position last Thursday but will continue to work with the agency in a consultancy role “through the transition to new leadership”.

Sean Moran, the agency’s head of business development, will take responsibility while the board searches for a replacement for Mr Webber.

The Royal Gazette reported this month how Mr Webber had been placed on administrative leave. The reason for that has not been made public.

Mr Webber, a Bermudian, was at the helm of the BDA since August 2014.

He said: “Having been integrally involved with the BDA since its inception, I am proud of what we’ve built and accomplished to date.

“I will continue to support the agency during this transition, and I have great faith the BDA team will continue its excellent work.”

BDA board chairman Paul Scope said the board will launch an executive search to identify a replacement for the CEO role.

Mr Scope said: “I thank Ross on behalf of the BDA. Under his leadership, the company has been transformed into a true business-development agency which the country can be proud of. We wish him well in the future.

“The agency remains committed to its focus on proactive business development, jurisdictional advocacy, supporting our stakeholders, and fostering an environment to encourage economic growth on the island.

“We have every confidence the dedicated and strong BDA team will continue to execute the BDA’s strategic priorities.”

Administrative leave is temporary leave from a job assignment with pay and benefits intact. The BDA declined to comment when asked if Mr Webber will be on the payroll as a consultant during the transition period.

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