ADB refutes reports of MD’s exit



Business News of Wednesday, 30 December 2015

Source: classfmonline.com

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The Board of Directors of the Agricultural Development Bank (ADB) has not asked Managing Director Stephen Kpordzih to resign, a statement from the bank has said.

“We wish to state emphatically that there has not been any communication from the board to the Managing Director about the non-renewal of his contract,” ADB said Wednesday December 30, 2015.

According to the bank, Mr Kprdzih’s exit from the bank was not discussed at its last meeting, and, therefore, wondered why it is being reported that such a decision was taken by the board.

“The last Board meeting of the Bank was on the 23rd December 2015 and the future status of the Managing Director, Mr. Stephen Kpordzih was not part of the agenda and was never discussed since his contract extension has not expired,” the statement noted.

Below is the full statement

RE-STEPHEN KPORDZIH LEAVES ADB

Our attention has been drawn to a news item with the above caption on citifmonline.com and being carried on air by the same media house about Mr. Stephen Kpordzih, the Managing Director of the Bank.

We wish to state emphatically that there has not been any communication from the board to the Managing Director about the non-renewal of his contract.

The last Board meeting of the Bank was on the 23rd December 2015 and the future status of the Managing Director, Mr. Stephen Kpordzih was not part of the agenda and was never discussed since his contract extension has not expired.

We have observed in recent times the consistent agenda by citifm in particular to run down the positive gains of the bank and malign the Managing Director, Mr. Stephen Kpordzih.

This behavior we find unprofessional, unethical and unbecoming of a media organization which claims of high professional standards.

The Marketing & Communications department of the bank is always available for any clarification on issues and we hope the radio station will explore the cordial relationship that exists.

We wish to urge our customers to disregard the news item and be assured of a successful IPO by the Bank.

Happy New Year.

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