Government has terminated the appointments of the Managing Director and General Manager of the Produce Buying Company (PBC). The dismissals have raised concerns about the role of state intervention in a listed company on the stock exchange.
But government says the top management reshuffle was carried out as a measure to improve the performance of the company. The affected officials are Messrs Asante Poku, the Managing Director and Opoku Mensah, General Manager.
A letter signed for the Minister of Finance named Emmanuel Owusu Boakye, a former Banker and currently a managing consultant as the new MD with Mr. Osei Boakye of the Quality Control Division of PBC, Ashanti region as his deputy.
The workers who were informed of the dismissals by the affected persons received the news with mixed feelings saying that it was politically motivated but the Finance Ministry insists that it was to improve the performance of the company. The company, which was initially listed on the stock exchange with a share offer of 520 Cedis gained 20 Cedis but has since dropped to 450 cedis.
