Home News Power Play @ GCMC …CEO, Board Lock Horns, As Company Shuts Down

Power Play @ GCMC …CEO, Board Lock Horns, As Company Shuts Down

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 By Monitoring Desk

The Ghana Cylinder Manufacturing Company (GCMC) is under lock-and-key following what could best be described as power-play between the Chief Executive, Frances Essiam-led management and board of the company.

Consequently, the over 70 workers of the company were yesterday asked to stay home whilst scores of customers who had visited the premises of GCMC for business were turned away with a “no gas” inscription boldly written at the precincts of the company.

Signs of the power play, sources say, began with the sacking of the Finance and Accounts Manager, Julius Opuni Asamoah by the CEO over alleged procurement breaches to which he also petitioned the Board, accusing, Frances Essiam of some malfeasance.

Subsequently, a query was fired to the CEO by the Board to field answers to the petition written by the dismissed Finance Manager, the dispositioning off obsolete equipment without the knowledge of the board, and the CEO’s concern on the alleged abuse of the company’s letterhead by the chair of the board to which the CEO replied, demanding an immediate meeting to look into the issue.

Whether or not the scheduled meeting would come off, the CEO reportedly called of the meeting. The board however passed a unanimous resolution to suspend Chief Executive Officer Frances Essiam.

The resolution was passed yesterday after a crunch meeting by the board.

The board also froze her authority to disburse any amount from the GH¢5 million stimulus package government sought for the Company.

But Ms Essiam speaking in an interview with 3FM on yesterday, accused the Boakye Agyen-led board of acting in contravention of powers vested in government appointees.

She said she was appointed by President Nana Akufo-Addo and would act in his interest only.

She hinted of resorting to the courts if she finds the actions of the board in contrast with the operations of the Company.


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