The Chief Executive Officer of the Cook Islands Investment Corporation Board, Joe Caffery, claims his sacking over the weekend was politically motivated.
Mr Caffery had completed two thirds of a three year contract and no reason for his dismissal has been made public.
The Investment Corporation was set up to privatise assets during the economic crisis in the Cooks in the mid nineties and now focuses on managing Crown assests.
Mr Caffery says the Corporation as it stands should be disbanded and replaced with a new body:
"The investment was set up at a economically disastrous time, at a time when the country was economically down and the government of the day, at that time was trying to find money to pay off their national debt and trying to sell off government assets. We have overcome that now, I think it's time that we should change the act by which it has been set up, it's now no longer applicable."
The Chief Executive Officer of the Cook Islands Investment Corporation Board, Joe Caffery.