Business News of Tuesday, 8 May 2012

Source: myjoyonline

SIC workers back decision to sack MD

Unionized Workers of SIC Insurance have given their backing to the company’s Board over the removal of Ben Acolatse as Managing Director.

The latest development contradicts earlier reports that the union is not in support of the board’s move.

Secretary of SIC Managers Association, Solomon Twum-Barimah told Joy Business they are in support of any action by the board: taken in the interest of the company.

“Shareholders have put the board of directors there to manage the interest of the company, which also include employees.

“So whatever decision the board will take to uplift the fortunes of the company we will support it.”

The Board of SIC Insurance last week fired the MD after an emergency board meeting which a vote of no confidence was said to have been passed on him. It however remains unclear what must have necessitated the board’s action.