NCB Financial Group Limited (NCBFG) announced Tuesday that CEO Patrick Hylton and Deputy CEO Dennis Cohen are departing the company.

According to a release by the company, Hylton and Cohen have, by agreement, proceeded on vacation leave effective immediately for a period of three weeks.

“During this period, it is expected that other arrangements will be made for the carrying out of their roles on an interim and then permanent basis,” the release stated.

It added that, for the immediate future, the NCBFG chairman Michael Lee-Chin will carry some executive responsibilities.

“NCBFG appreciates the service of Mr Hylton and Mr Cohen to the NCB Financial Group over the past 20 and 19 years, respectively. During the period of their leadership, the Group has grown to attain and maintain record levels of financial performance,” the company stated.

It added that, “The NCB Financial Group will continue to benefit from its strong overall leadership team, while the financial holding company undergoes the above changes. That leadership team includes Mr Septimus “Bob” Blake, Chief Executive Officer of National Commercial Bank Jamaica Limited (NCBJ) who also oversees NCBJ’s subsidiaries, Mr Ian Chinapoo, Group Chief Executive Officer of Guardian Holdings Limited and Mr Ian Truran, Chief Executive Officer of Clarien Bank Limited.”

READ: ‘Unhappy’ Lee-Chin cutting leave from NCB short

Speculation of a shakeup at NCBFG was fueled Monday when it announced that Lee-Chin was cutting his leave of absence short from the company short and that Hylton and Cohen were proceeding on vacation.

Lee-Chin has publicly expressed unhappiness over the non-declaration of a dividend by the company in more than two years.

READ: ‘Nothing to worry about’: Lee-Chin assures NCB clients as key execs go on leave