Weeks after her replacement, the immediate past Managing Director of SIC Insurance Company Limited, Ms. Hollistar Duah-Yentumi, has sparked a leadership crisis by refusing to hand over to the newly appointed Acting MD, Mr. James Agyenim-Boateng.
Investigations reveal that Ms. Duah-Yentumi has not only declined to cooperate with the transition process but has also locked the Managing Director’s office and taken the keys, effectively barring her successor from assuming his role.
The standoff began after President John Dramani Mahama appointed Mr. Agyenim-Boateng as the Acting Managing Director of SIC Insurance on Friday, January 24, 2025. Ms. Duah-Yentumi, who was appointed under the previous New Patriotic Party (NPP) administration, has since resisted the transition, raising questions about her motives and the implications for the state-owned insurance company.
On Thursday, January 30, Mr. Agyenim-Boateng visited the SIC headquarters to formally introduce himself to the management team. However, Ms. Duah-Yentumi conspicuously avoided the meeting, breaking from the long-standing tradition where outgoing and incoming leaders collaborate to ensure a seamless handover. To make matters worse, she has failed to submit her handing-over notes, further stalling the process and leaving the company in a state of uncertainty.
The situation has drawn sharp criticism from staff members, who describe Ms. Duah-Yentumi’s actions as unprofessional and detrimental to the company’s operations. One anonymous staff member expressed frustration, stating, “We are under the Ministry of Finance, and the Minister has officially communicated the appointment of Mr. James Agyenim-Boateng as our new MD. I don’t see why the former MD is refusing to hand over. She was also appointed by the previous government, and with the change in administration, it is expected that new leadership will take over. It’s a shame, and she must immediately hand over.”
The delay in the transition has created a leadership vacuum, leaving employees in limbo and disrupting the company’s operations. Staff members are urging Ms. Duah-Yentumi to comply with the transition process and allow Mr. Agyenim-Boateng to take the reins so he can begin implementing his vision for the company.
Despite the growing tension, authorities have yet to intervene decisively to resolve the impasse. The lack of action has fueled speculation about potential political undertones and the broader implications for governance within state-owned enterprises.
As the standoff continues, the situation at SIC Insurance serves as a stark reminder of the challenges that can arise during leadership transitions, particularly in politically sensitive environments. Stakeholders are calling for swift action to restore stability and ensure that the company can move forward under its new leadership. For now, all eyes remain on Ms. Duah-Yentumi, whose next move could determine the fate of SIC Insurance and its employees.
