By InvestAdvocate
Lagos (INVESTADVOCATE)-The Board of Directors of Guinea Insurance Plc operating on the Insurance Sector of the Nigerian Stock Exchange (NSE) Wednesday announced the disengagement of Ekerete Ola Gam-Ikon, its Executive Director (ED) Marketing.
This was contained in a notice dated November 23 2011 by the Company to the Nigeria’s Exchange and obtained by www.investadvocateng.com in Lagos Nigeria.
The disengagement of Gam-Ikon came on the heels of the resolutions at the 220th meeting of the Board of Directors of the Company; where the performance of the Executive Director was reviewed and found unsatisfactory.
“The Board reviewed the performances of the Executive Director (Marketing) – Mr. Ekerete Ola Gam – Ikon and approved his disengagement from the services of the Company.
The Board in arriving at the above decision observed that the Executive Director (Marketing) not only under performed in the targets set for him, but concealed material information pertaining to his employment history upon recruitment†the notice said.
Other resolutions at the meeting is that the Board of Guinea Insurance has resolved that the Executive Management Committee be given six (6) months, effective from November 18th, 2011 to improve on the overall performance of the Company.
The Board also reviewed the 2012 timetable for its quarterly meetings as well as that of its Committee as presented by the Company Secretary and approved as amended in 2011.
Apart from these, the Board of Directors of Guinea Insurance considered the need to structure its Branch operations and the need to open more branches in the right Cities / Towns. It also approved the right staffing of the various branches and proper coordination of branch operations.
However, the Board constituted the following Board Committees which include Enterprise Risk Management Committee to be chaired by Engineer Emeka Agusiobo; while other members are HRH Smart Nze and all Executive Directors of the Insurance Company as members.
Also, the Audit and Compliance Committee was constituted and this is to be chaired by Alhaji A.O.Kadiri, Prof .E.L.C. Nnabuife and Nasiru Isyaku as Member.
In the same vein, Seven- Up Bottling Company Plc. Notified the Nigeria’s Exchange that it’s Board Meeting is scheduled to hold on December 6, 2011 at the Chairman’s office at 11:00 a. m.
At the meeting the Board will among other things approve its Half Year Financial Statements for the period ended September 30, 2011 for publication and also ratify transactions dealt with by its Management Committee.
