President Nana Akufo-Addo has directed the dissolution of the Board of Ghana Cylinder Manufacturing Company (GCMC) Limited.
A letter signed by Energy Minister, Boakye Agyarko, has also directed the Board Chair, Frank Boakye Agyen, to hand over documents and items belonging to the Board to the Company Secretary of GCMC.
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The letter did not state the reason for the dissolution of the Board but sources say the recent tension between the CEO, Frances Essiam and the Board, may have played a part.
The power play became evident in May after Frances Essiam sacked the Finance and Accounts Manager, Julius Opuni Asamoah who is also a member of the Board.
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Infuriated by the development, the Board accused the CEO of exercising powers she didn’t have and subsequently suspended her.
But Frances Essiam justified her action insisting that Mr Asamoah was on probation and therefore could be sacked if his performance was unsatisfactory.
Some workers of the company backed Ms Essiam’s decision and staged a protest in an attempt to prevent the board from removing Ms Essiam.
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Meanwhile, the Energy Minister’s letter dated July 3, 2018, expressed the President’s gratitude to the Board for the services they rendered to the nation.
