'Gold Coast Board rotation not resignation'
The Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has downplayed news of his resignation from the Board of Gold Coast Brokerage.
Another Board member, Patrick Kobina Anumel, also resigned.
However, Dr Nduom said in a statement that: “As we normally do, we have been rotating directors off and on the Board of Directors of all our Groupe Nduom companies. So, the time had come for me and another director on the Board of Gold Coast Brokerage to rotate off and allow others to come and supervise the company. This is normal corporate governance policy”.
Meanwhile, new appointments have been made to the Board, which includes Dr Olivia Anku-Tsede, Mr Joseph Kusi-Tieku as well as Mr Kwesi Abedu Wilson.
Below is Dr Nduom’s reaction to the news of his reported resignation:
Nduom Resigns From Gold Coast?
My attention has been drawn to a story making the rounds about me resigning from Gold Coast. I am aware that anything "Gold Coast" has become associated with me, good or bad. Maybe that is why an ordinary, routine business transaction has become a general news item.
Unfortunately, some are also trying to cause mischief with it in official and unofficial circles.
We have had Gold Coast Securities, Gold Coast Fund Management, Gold Coast Holding, Gold Coast Brokerage, etc., etc. They are all separate, legal entities with their assets and liabilities.
As we normally do, we have been rotating directors off and on the board of directors of all our Groupe Nduom companies. So, the time had come for me and another director on the Board of Gold Coast Brokerage to rotate off and allow others to come and supervise the company. This is normal corporate governance policy.
At the same time, the decision was made to re-brand Gold Coast Brokerage to become Teak Tree Brokerage (TTB) to enable it to forge its own identity and assert its independence in the capital market. TTB buys and sells stocks, bonds, treasury bills, sponsors companies and products for listing on the Ghana Stock Exchange, etc. It has been doing this for 25 years. The company does not hold or manage any customer funds and consequently does not owe anyone. It lives off commissions it earns from the transactions it executes.
I am proud of the Gold Coast tradition and the positive things it has done for thousands of investors. So, the Gold Coast company faced with challenges - Gold Coast Fund Management has my full attention and we are working to make sure customers of that company are able to withdraw their investments as and when needed.
Interestingly enough, some competitors and officials who regulate our activities are sharing this. They know who they are. We have been in business long enough to know that ups and downs occur. We have a long term, patient focus. Nothing will shake it. Challenges will be overcome.
Dr Papa Kwesi Nduom
Source: classfmonline.com
Trending News
Internet cut: We were saved by our proactive measures - NCA
05:44COCOBOD trial: No fertiliser, CEO is blameable for production fall - Dir. of RM&E tells court
12:49ECG publishes dumsor areas in Accra
13:122020 polls: I’ll be better than ‘failed’, twice-rejected Mahama – Bawumia says ex-president Fourth Republic’s ‘worst’
03:01Nsawam, Kade, Adieso, Asamakesse, Koforidua others to get modern retail markets under my administration-Alan
11:37Dgitalisation the way to go: Bawumia to GRA
11:19Karaga chieftaincy imbroglio: One killed, 12 bullet-injured in army-civilian clash
02:08DLE:EC yet to account for 28 BRVs
10:3210,720 housing units being worked on to reduce deficit – Oppong Nkrumah
10:45Napo: Dumsor timetable advocates are 'evil' wishers; 'they should bring one if there is'
00:38