ADB sacks 15 management members

The Head of Marketing of the Agricultural Development Bank Adams Sulley and fourteen other management members of the bank have been sacked, confidential documents available to Starr News suggest.

It is unclear what has necessitated their sudden dismissal but sources within the Agriculture-inclined bank say they are perceived to be against recent decisions being taken by the managing director of the bank Stephen Kpodzi.

Some of the officials affected by the action include, head of Risk Merchandani Sanjay, head of Corporate Banking Wilson Kwesi Abedu, Procurement officer Owusu-Ansah Nana Akua, head of Asset and Liability management Zigah John Kwame Mensah among other top guns of the bank.

A dismissal letter given them today, November 11 2015, indicates that the action is of immediate effect.

The letter, however, noted that the move is as a result of some organisational restructuring being undertaken by the financial institution.

Some of the affected persons have already started packing out, Starr sources noted.

Meanwhile, the bank has in a statement noted that the retrenchment is aimed at ensuring that it remains focused and efficient in the banking industry.

Below are details of the statement

ADB UNDERGOES RESTRUCTURING

The Agricultural Development Bank (ADB) as part of its plans to review its operations based on a thorough evaluation of the company’s structure and strategic objectives has implemented a new management organogram which has led to the merger and re-alignment of certain managerial positions in the bank.

As a result of these changes about fifteen (15) Management staff in the previous organogram have been affected thus rendering them out of work but per the policy of the bank and within the acceptable labour laws of the country workers have been rewarded with juicy compensation packages.

According to Senior Management of the bank the decision was taken earlier this year at a Management retreat in Akosombo and was given approval by the board for implementation since it is aimed at ensuring growth, strength and sustainability of the bank moving forward.”

“We are in a very competitive market and there is the need to re-align our operations and strategic objectives to remain on top as one of the best performing indigenous banks in the country.

Also in another development some staff of the bank who engaged in various acts of operational indiscipline in the discharge of their duties have been dismissed for acts that the Disciplinary committee of the bank found to have caused severe damage to the bank’s image and reputation

The Management of the bank wishes to assure all its stakeholders, customers and general public of its commitment towards working to maintain high disciplined standards and efficiency to ensure that the bank continues to serve the Ghanaian public.

ISSUED BY THE COMMUNICATIONS UNIT

AGRICULTURAL DEVELOPMENT BANK LIMITED