As a result of the deadlock between the CEO of the Ghana Cylinder Manufacturing Company GCMC and the board of the company, President Akufo-Addo has called for the dissolution of the Board.
The decision by the President comes weeks after the CEO of GCMC, Frances Essiam, was suspended by six of the nine members of the board, over claims that she had mismanaged the company, and also awarded some contracts without the approval of the Board or the Energy Ministry.
Even before her suspension, the GCMC board queried Frances Essiam over the allegations of mismanagement.
A statement signed by the Energy Minister Boakye Agyarko, and copied to his Deputy Ministers, noted among other things that the dissolution should be done in accordance with the provisions of the “company’s regulations.”
The Board of the Ghana Cylinder Manufacturing Company, GCMC suspended CEO of the state body, Frances Essiam following a vote on Tuesday, May 8, 2018.
Six of the nine-member board voted in favour of Frances Essiam’s suspension at a meeting held outside the premises of GCMC due to a lock-out on the orders of Frances Essiam, a situation that barred staff of the company from gaining access to their offices when they turned up for work.
The Board had reportedly queried Frances Essiam over claims that she has mismanaged GCMC, and also awarded some contracts without the approval of the Board or the Energy Ministry.
A letter from the company’s Board had warned Frances Essiam to stay off the disbursement of a GH¢5million stimulus package sought by the government for the company.