The State Enterprise Commission (SEC) has set up an investigative team to probe the power struggle between the CEO and Board of Directors for the GCMC.
The team is expected to present its findings to the Chief Executive of the Commission for the necessary actions to be taken.
The CEO of GCMCL, Frances Essiam and the Board led by Frank Boakye Agyen are at loggerheads regarding the award of contracts by the CEO.
The board, in a leaked letter, had demanded Ms Essiam to provide explanations for some financial decisions she had made since taking office last year.
However, Ms Essiam has denied claims of awarding several contracts worth millions of Ghana cedis without recourse to the company’s board.
Due to the impasse, workers of the company did not report to work on Tuesday 8 May as was expected.
Accra News understands the CEO ordered the closure of the company to prevent the board from meeting at the company’s premises.
The Agenda for the meeting was to discuss the board’s query to the CEO and her subsequent response, a petition from the dismissed finance and accounts manager to the board and the CEOs concerns on the use of GCMC letterhead by the Board chair and other related matters.