Bawumia’s aide criticises Hollistar Duah-Yentumi for refusing to hand over to the new acting CEO

Kofi Tonto, a political aide to former Vice President Dr. Mahamudu Bawumia, has sharply criticised Hollistar Duah-Yentumi, the former Managing Director of SIC Insurance Company Limited, for reportedly refusing to hand over to the newly-appointed Acting MD, James Agyenim-Boateng, weeks after his appointment by President John Dramani Mahama.

Tonto, in a Facebook post on Thursday, February 6, 2025, emphasised that individuals appointed under the previous government are expected to vacate their positions following a transition of power.

He argued that those who campaign against the new government’s vision cannot expect to retain their roles, calling for a seamless handover to those aligned with the current administration.

“You cannot campaign against the vision and ideas of Mahama and expect to remain as a CEO. Step aside for those who believe in his ideas and vision. It’s that simple,” Tonto wrote.

This comes amidst reports of a troubling standoff at SIC Insurance Company Limited, where Duah-Yentumi has allegedly refused to relinquish control. According to sources, the former MD not only failed to hand over but also locked the MD’s office and absconded with the keys, preventing the newly-appointed MD from assuming his responsibilities.

On Friday, January 24, 2025, President Mahama appointed Agyenim-Boateng as the Acting MD of SIC Insurance Company Limited, replacing Duah-Yentumi, who had been appointed during the previous administration.

Further reports indicate that on Thursday, January 30, the new acting MD visited the company’s headquarters to meet with management, but Duah-Yentumi reportedly refused to attend the meeting.

Typically, such meetings are part of a smooth transition process, where both outgoing and incoming CEOs meet to facilitate the handover.

However, the situation at SIC Insurance Company Limited has been anything but typical, as the outgoing MD has not only refused to participate in the transition but has also failed to provide handing-over notes.

In addition, she has locked up the MD’s offices and retained the keys, further complicating the handover process.

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