Frances Essiam suspended as CEO of Gas Cylinder Company

Frances Essiam suspended as CEO of Gas Cylinder Company

- The GCMC CEO was suspended by some angry board members for allegedly locking them in a meeting

- Frances Assiam has been accused of awarding some contracts without approval from the company board

The Chief Executive Officer (CEO) of Ghana Cylinder Manufacturing Company (GCMC), Madam Frances Essiam, has been suspended by board members of the company.

According to a Citinewsroom.com report, six out of the nine board members took the decision and suspended the CEO of the company.

Frances Essiam suspended as CEO of Gas Cylinder Company

Madam Frances Essiam, CEO of GCMC

READ ALSO: Kidi’s fans divided over his comment to join or reject Zylofon on a $2 million deal

The report states that Madam Essiam’s suspension comes on the back of a disagreement with the board during which [she], the CEO locked them out on Tuesday afternoon when they attempted to hold a meeting at the company’s premises.

The board had earlier queried Madam Essiam over claims that she has mismanaged GCMC, and also awarded some contracts without approval from the Energy Ministry.

A letter from the company’s board had reportedly warned Madam Essiam to stay off the disbursement of a GH¢5million stimulus package sought by the government for the company.

According to further reports, the letter which dated April 13, 2018, and signed by the company board chairman, Frank Boakye Agyen, questioned why [she] Madam Essiam never sought approval from the Ministry of Energy before awarding several contracts.

READ ALSO: Woyome's lawyers 'wickedly' attack Supreme Court Judge Dotse

“You verbally informed the Board but belatedly after you borrowed money to enable you to pay the salaries of the workers for February 2018. Please explain why you did not seek the Board’s approval before contracting the loan to pay workers,” a portion of the letter quoted.

“….at the meeting of the board on the 5th of April 2018, members unanimously asked me to write to you to demand answers for the following actions of yours; in ordering the company’s old and disused machinery for sale as scraps, did you follow due process laid by law? If yes, please state the processes you followed,” it added.

However, Madam Frances Essiam has denied all claims and allegations leveled against her.

Following the lockout, the members of the board held the meeting outside the premises of the company, where the six members approved a decision to suspend her.

Meanwhile, it is not yet clear how Madam Essiam will respond to the decision by the six board members to suspend her.

READ ALSO: Kennedy Agyapong sends 'coded' message to Asantehene Otumfour Osei Tutu II

Ghana trends: All About Shatta Wale's Highs and Lows:

Subscribe to watch new videos

Yen.com.gh is building a platform where Ghanaians can share local news and own experiences with each other. Witnessing an incident? Want to tell about a local problem? Know someone who is extremely talented and needs recognition? Your stories and photos are always welcome. Message us on Facebook.

Source: Yen.com.gh

Related news
Wizkid - Gucci Snake ft. Slim Case: video, mp3, lyrics and facts

New music alert: Wizkid - Gucci Snake your next best song

Wizkid - Gucci Snake ft. Slim Case: video, mp3, lyrics and facts
YEN.com.gh
Mailfire view pixel