Business News of Thursday, 31 January 2019
Although news had gained currency days ago that eight Chief Executive Officers (CEOs) leading state institutions who had crossed the retirement age of 60 were to be axed by March 2019, Information Minister, Kojo Oppong Nkrumah has come out clear the air.
The media savvy minister stated engagements between government and CEOs of State-owned enterprises are routine noting; “While it remains the prerogative of the President to engage or disengage the services of CEOs of State Owned Enterprises, he exercises such powers after the necessary requisite engagements.”
On Monday, January 28 when he made the submission at a press briefing, he also rendered “should the President at any time opt to disengage with the services of any CEO that will be done as always in accordance with established due process.”
The Public Service Act mandates public officers to retire from public service after attaining the age of 60, however, the act allows for an extension of about five years per the President’s dictates.
The eight CEOs who had crossed the 60 bridge and whose name came up for mention include:
-Isaac Osei, 67 years – CEO of Tema Oil Refinery (TOR)
-Kwame Owusu, 67 years – CEO of Ghana Maritime Authority
-Anthony Nsiah-Asare, 65 years – Director General of the Ghana Health Service
-Samuel Annor, 64 years – CEO of the National Health Insurance Authority
-Kwadwo Owusu Afriyie, 65 years CEO of the Forestry Commission
-Eugene Ofosuhene, 67 years – Controller and Accountant General
-Kofi Jumah, 68 years – CEO of Ghana Industrial Holding Corporation (GIHOC)
-K Sarpong, 65 years – CEO of the Ghana National Petroleum Corporation (GNPC)
Performing CEOs who attain the retirement age can be engaged on contract basis. It is however hoped that CEOs of such public institution would put in a succession plan rather than leave a vacuum when they depart.