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The transition of leadership at SIC Insurance Company Limited has hit a major roadblock as the immediate past Managing Director, Ms. Hollistar Duah-Yentumi, has refused to hand over to her successor, Mr. James Agyenim-Boateng, weeks after her replacement.
Reports indicate that Ms. Duah-Yentumi has not only declined to comply with the transition process but has also locked up the managing director’s office and taken the keys with her, making it impossible for Mr. Agyenim-Boateng to assume office.
President John Dramani Mahama appointed Mr. Agyenim-Boateng as the Acting Managing Director of SIC Insurance on January 24, 2025, replacing Ms. Duah-Yentumi, who was appointed under the previous New Patriotic Party (NPP) administration.
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Upon his arrival at the SIC headquarters on January 30 to officially introduce himself to the management team, Mr. Agyenim-Boateng faced resistance as Ms. Duah-Yentumi refused to attend the meeting. This defiance breaks from the norm, where outgoing and incoming executives collaborate to ensure a seamless transition.
Further complicating the matter, Ms. Duah-Yentumi has failed to submit her handing-over notes, causing frustration among staff members. Employees have expressed disappointment over the situation, with some calling it a significant disruption to the company’s operations.
One anonymous staff member described the situation as unacceptable:
“The Ministry of Finance has already communicated the appointment of Mr. James Agyenim-Boateng as our new MD. It is only appropriate that the former MD cooperate to ensure a smooth transition.
Her refusal is setting a bad precedent.”
The delay in the transition process has left employees uncertain about leadership directives, affecting productivity and overall morale within the organisation.
Industry experts warn that such leadership impasses can have dire consequences for corporate governance and the company’s operational efficiency. Many are calling on relevant authorities to step in and resolve the deadlock to allow Mr. Agyenim-Boateng to begin implementing his vision for the state-owned insurance company.
As the standoff continues, stakeholders remain hopeful that a swift resolution will be reached to prevent further setbacks at SIC Insurance.
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