A Respectful Request for the Resignation of Bob Diamond
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As members of the Colby community, we have a strong interest in upholding
the values of our school. We feel the Board of Trustees decision to “strongly support” Mr. Bob Diamond as chairman of the Board reflects poorly on these values.
Mr. Bob Diamond was the CEO of Barclays Bank when it fixed the London
Interbank Offered Rate—one of the essential rates in the global financial system—
for which the bank was fined over $450 million. Whether or not he knew of the
manipulation, this reveals a serious failure in his judgment as a leader. As such, we
A.) That Mr. Diamond resign his position as chair of the Board of
B.) That the Board of Trustees submits a public statement distancing
themselves from Mr. Diamond’s business practices and reaffirming their
commitment to integrity and transparency.