The Board Chairman of COCOBOD Hackman Owusu Agyeman says he will ensure a massive reduction in the salary of the new Chief Executive Officer of the company.

According to Mr. Owusu Agyeman, salaries being paid to former CEO and other managers of the company are outrageous and not sustainable.

The comments of the former Foreign Affairs minister come after it was revealed that the immediate past CEO of COCOBOD Dr. Stephen Opuni earned a whopping GH¢70,000 monthly salary.

He noted that despite the cut some top managers of COCOBOD will still earn more than the president and other Article 71 office holders which is pegged around Gh¢22,000.

Speaking on Morning Starr Wednesday, Mr. Owusu Agyeman said the current CEO of COCOBOD, Joseph Boahene Adu has no qualms with his salary being slashed by 50%.

“It is nothing extra-ordinary to slash pay to help improve a sector…if I had my way, the salary would be slashed by at least 50%,” Mr. Owusu Agyeman told host Francis Abban.

Mr. Owusu Agyeman also stated that board members of COCOBOD take a monthly salary of Gh¢ 2,000 with the Chairman taking Gh¢2,500 adding a slash in their salaries to save the company some money will be welcomed.

The new COCOBOD Chairman added that they intend to review all contracts awarded in the last couple of months adding that “when the need arises for a re-negotiation of contracts, we will do so.”