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The Marketing and Communications department of the Agricultural Development Bank has vehemently debunked news that the MD of the bank, Stephen Kpordzih has been let go.
According to an earlier media reportage on Wednesday, the board of the bank had failed to renew the appointment of Mr. Kpordzih after it ended in December.
However a statement signed by the Marketing and Communications Manager, Solomon Adu Atefoe which has been made available to Pulse Business indicate that no such action has been taken.
The statement added that the last meeting held by the board was on the 23rd of December 2015, and nothing was discussed about the contract of Stephen Kpordzih as the MD's contract has not expired.
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Here is the full statement released by ADB:
The bank took strong reservations about the reportage describing it as unprofessional and as part of what they describe as a constant attempt to run down the positive gains of the bank and malign the Managing Director.
Stephen Kpordzih's contract was extended in August 2015 for an additional 6 months when it expired. The board found it necessary to have him in the helm of affairs to oversee the launch of the company's Initial Public Offering and general restructuring which included rebranding and a relocation of its headquarters.
It is however not clear yet, whether the MD's contract will be renewed.