SIC MD refuses to exit as standoff escalates to legal battle

The leadership transition at SIC Insurance Company Limited has taken a legal turn as the immediate past Managing Director, Ms. Hollistar Duah-Yentumi, refuses to hand over to her successor, Mr. James Agyenim-Boateng, weeks after her replacement.

President John Dramani Mahama appointed Mr. Agyenim-Boateng as Acting Managing Director on January 24, 2025, replacing Ms. Duah-Yentumi, who served under the previous New Patriotic Party (NPP) administration.

However, Ms. Duah-Yentumi has contested the appointment, locking the Managing Director’s office and withholding the keys, thereby preventing her successor from assuming office.

On January 30, Mr. Agyenim-Boateng’s attempt to introduce himself to the SIC management team was overshadowed by Ms. Duah-Yentumi’s absence, breaking the standard transition protocol.

The standoff has now escalated as Ms. Duah-Yentumi filed a lawsuit on February 4, arguing that her employment contract, signed with SIC Insurance, grants her a four-year tenure until January 2028. 

She asserts that her termination can only be effected by the company’s board of directors or its shareholders at an Annual General Meeting.

In the suit, Ms. Duah-Yentumi seeks a High Court declaration that her termination was unlawful and calls for the reversal of Mr. Agyenim-Boateng’s appointment. She is also demanding full payment of her salary and benefits for the remaining term of her contract.

The transition impasse is causing operational disruptions at SIC Insurance, with staff expressing concerns over the lack of clear leadership.

Calls for Ms. Duah-Yentumi to cooperate are growing, while industry watchers await the court’s verdict to determine the future of the company’s leadership.