The immediate past Managing Director of SIC Insurance Company Limited, Ms. Hollistar Duah-Yentumi, has filed an injunction against the company and its incoming MD, James Agyenim-Boateng.
President John Dramani Mahama on January 27, announced Mr. Agyenim-Boateng as Ms. Hollistar Duah-Yentumi’s successor but she has rejected the appointment in a February 4 suit.
Ms. Hollistar Duah-Yentumi argued that “under and by virtue of the agreement the Plaintiff’s tenure as the Managing Director is for a period of four years, thus expiring on the 1st day of January 2028 or soon thereafter as may be agreed upon by the Board of Directors of the 1st Defendant and the Plaintiff.”
“The Plaintiff therefore states that all terms relating to and regarding the Plaintiff’s employment as the Managing Director of the publicly listed company such as the 1st Defendant is governed solely by the employment agreement executed by the parties,” the suit added in part.
Ms. Hollistar Duah-Yentumi further argued that “regarding the termination of the Plaintiff’s employment, Plaintiff states that under and by virtue of clause 7 of the agreement, the Plaintiff’s employment may only be terminated by the board of directors of the 1 Defendant or by all the shareholders of the company acting at an Annual General Meeting for the said purpose.”
The suit is therefore praying the High Court to declare “that the purported termination of the Plaintiff’s employment as the Managing Director of the 1st Defendant is unlawful and in breach of the employment contract executed between Plaintiff and the 1st Defendant” and that “the purported appointment of the second Defendant to act as the Managing Director of the 1st Defendant is unlawful.”
The legal team is also seeking “an order directed at the Defendants to make payment of the Plaintiff’s entire salary and benefits for the unexpired term of the employment contract, which benefits, and salary are pleaded in paragraphs 11 and 12 above.”
Below is the full suit
