11 June 2018

Ghana: 7 Biggest CEOs Out of Job

Toxic corporate culture, political influence, labour unrest, and dramatic shift in consumer tastes, have been cited as some of the many reasons that led to the job losses of seven high-profile CEOs in the country this year.

Here are some of the most noteworthy.

Oheneba Akua Manfo (Blakofe)

The Deputy Director of the Ghana Tourist Development Company (GTDC), Blakofe known in real life as Oheneba Akua Manfo resigned from her post in May.

Earlier on her Facebook page, Blakofe wrote, "Has she, has she not? Yes, people, I have officially resigned as Deputy CEO, Ghana Tourist Development Company, effective end of this month."

Blakofe was appointed by H.E Nana Addo Dankwah Akuffo Addo as the Deputy Chief Executive Office of the Ghana Tourism Development Company (GTDC) in February and in just three months after being at post, she has tendered in her resignation to step down by the end of May, 2018.

She is a TV/Radio Presenter, a producer, an events organiser, an MC, an actress, a choreographer, and dancer.

Srinivasan Venkatakrishnan - AngloGold Ashanti

Venkatakrishnan after 18 years with the company, with the last five years as CEO, resigned from his post after accepting an offer to become CEO of Vedanta Resources Plc, the diversified resources group. He, however, remains in his current role as CEO of AngloGold Ashanti until August 30, 2018.

The mining giant announced Tuesday, April 17, 2018, that a global search for the new CEO is underway, with a sub-committee of the Board formed to evaluate internal and external candidates. Venkatakrishnan assumed the role of CEO in May 2013, soon after the gold price fell by nearly a third.

Under his leadership, AngloGold Ashanti achieved a 16 percent reduction in all-in sustaining costs, a 30 percent reduction in all in costs, a two-thirds reduction in overhead expenditure, a one-third reduction in debt, successful completion of two new mining projects, and five consecutive years of either meeting or beating its market guidance metrics.

Kudjoe Fianoo - Ashgold Football Club

Chief Executive Officer of AshantiGold, Kudjoe Fianoo resigned as the CEO of Ashgold club in February 2018. Fianoo had been with the Miners for over a decade- played a key role in the team's building and guided them to end their 19-year league title drought in the 2014/15 season.

With new investors set to take over the club, the veteran administrator believes the time to exit the club is essential for its progress.

Gifty Klenam - GEPA

Gifty Klenam was unmade Chief Executive Officer (CEO) of the Ghana Export Promotion Authority (GEPA) in June

The former Member of Parliament (MP) was her office for no clear reasons. However, local media in Ghana reported that the CEO was allegedly involved in massive mismanagement of funds belonging to the authority.

According to the publication, Madam Klenam collected $132,000 for house rent, covering a period of two years in gross violation of state procurement laws. The president of Ghana Akufo Addo later on showed he the exit.

Alfred Obeng Boateng

The Managing Director of the Bulk Oil Storage and Transport Company, Alfred Obeng Boateng left his office in June 2018,

A letter signed by the Executive Secretary to the President of Ghana, Nana Bediatuo Asante said Mr Obeng has until Friday, June 8, to hand over.

Obeng Boateng's reign as BOST Managing Director has been dogged by one controversy and another relating to the sale of contaminated fuel to some private organisations.

Paul Asare Ansah - GPHA

Paul Asare Ansah was removed by the president of Ghana from his post as the Director General at Ghana Ports and Harbours Authority (GPHA).

He is to be replaced by Mr Michael Achagwe Luguje, who is currently the Secretary-General, Port Management Association for West and Central Africa, based in Nigeria.

Reasons for Paul Ansah's removal from office is believed to have been triggered by a recent spat between workers' union of the Ports Authority and Board Chair, Peter Mac Manu.

Felix Kwaku Anyah - Korle Bu Teaching Hospital

The Chief Executive Officer of Korle Bu Teaching Hospital, Dr. Felix Kwaku Anyah, lost his post in June as well.

It follows the decision by President Nana Akufo-Addo to terminate the appointment of the experienced health professional who served as the head of the country's premier health facility for just a year.

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