The Institute of Directors Ghana (IoD-Gh), has proposed to Government how the appointment of Chief Executive Officers (CEO) of State-Owned Enterprises (SOEs) should be done.
Delivering a speech during the virtual launch of the Institute’s 3rd edition of Directors’ Week Celebration on Tuesday, November 10, President of the Institute, Rockson Dogbegah, pointed out that appointment of CEOs of SOEs by Heads of State before the formation of Board of Directors defeats the principles and practices of good cooperate governance in the country.
“Ghana has a practice where CEOs of State-Owned Enterprises are appointed ahead of the formation of the respective boards charged with the responsibility to direct the affairs of such enterprises. This tradition defeats the principles and practices of good cooperate governance,” said Mr Dogbegah.
Addressing the issue in his speech, Mr Dogbegah, advocated that Government relegate the appointment of CEOs of SOEs to their respective Board of Directors.
“The boards should use its powers to search and appoint suitable CEOs who will be charged with the responsibility to manage the State Owned Enterprises on a day to day basis. This is very dear to us,” he intimated.
The 2020 Directors’ Week Celebration as duly launched by IoD-Gh will explore opportunities for members to examine their systems and assess their degree of
preparedness for dealing with uncertainties, especially during this Covid-19 era. Strategic capacity development sessions will also be organized to equip Directors with tools to manage uncertainties.
Opportunities will further be created for members to interact with the leadership of IoD-Gh to discuss various strategic issues relating to the Institute.
An Awards Ceremony will be held at the end of the Week Celebrations to recognize individuals and organizations who have distinguished themselves in the promotion of good Corporate Governance.
The Institute of Directors-Ghana, a member of the African Corporate Governance Network (ACGN), is a professional body with the core mandate for training, research, consultancy services, advisory services, and advocacy in Corporate Governance.
For two decades, the Institute has championed Director interests, impacting the local Corporate Governance landscape with support from its partner, the International Finance Corporation (IFC).
