The Agricultural Development Bank (ADB) has officially sacked its deputy Managing Director and 14 other management members as it undergoes what its communications unit describes as restructuring, media reports do indicate.
So far, the cause of the lay-offs remain unknown but sources within the Agriculture-inclined bank say they are perceived to be against recent decisions being taken by the managing director of the bank Stephen Kpodzi.
Management officials affected by the action include, the head of Marketing Adams Sulley, chief risk officer Merchandani Sanjay, head of asset finance Wilson Kwesi Abedu, Procurement officer Owusu Ansah Nana Akua, head of Asset and Liability manager Zigah John Kwame Mensah among other top guns of the bank.
In the meantime, a statement issued by the top hierarchy of the bank reveals the retrenchment is aimed at ensuring that it remains focused and efficient in the banking industry. of the bank