It followed crisis talks by Policy Council ministers yesterday about the possible damage to the island’s reputation because Deputy Harwood was at one stage a director of the troubled CISX and chairman of its regulator, the Guernsey Financial Services Commission.
He said in the statement: ‘I have today tendered my resignation from the office of Chief Minister of the States of Guernsey. I have done so with regret but recognising the risk to the reputation of that office and the States of Guernsey caused by recent media interest in my previous role as the director of the Channel Islands Stock Exchange.
‘It seems to me that uncertainty concerning the final outcome of the investigation by the Guernsey Financial Services Commission into matters pertaining to the CISX would focus unnecessary media attention on my continued role as chief minister, and that attention would be to the detriment of the reputation of that office and the Policy Council.
Deputy Harwood said such attention would also seriously detract from the vital ongoing work of the Policy Council and its sub-committees, in addition to the special States committees he chairs and States departments.
‘It is now important that we proceed as quickly as possible with the process of electing as new Chief Minister,’ he added.