The Managing Director of SIC Financial Services Ltd (SIC-FSL), Dr Sa-ad Iddrisu, has petitioned the government over what he describes as persistent interference by the Board Chairman, Jonathan Dziasu, in his ongoing restructuring and reset agenda for the company.
The dispute stems from a restructuring exercise initiated by Dr Iddrisu, which involved reassigning certain management staff appointed by the former Managing Director under the previous NPP administration.
While Dr Iddrisu was out of the country, the Board Chairman allegedly convened a board meeting and reversed all the transfers implemented under the Managing Director’s restructuring plan.
The resulting leadership standoff has disrupted operations at SIC-FSL, prompting Dr Iddrisu to formally seek government intervention to resolve the matter and ensure the implementation of his reset agenda.
In a memo to staff, cited by MyJoyOnline and dated December 1, Dr Iddrisu laid out the friction between management and the board.
The MD informed the staff about a halt in certain decisions and actions until the government addresses the petition.
Below is the detail of the memo.
