He stated that many Boards, especially in transition periods neglect their roles and fail to exercise supervisory role over the Institution.
He noted, “In transitions and very fast transformations many of the boards just go along rather than perform their basic responsibility of making sure their things are being done legitimately.”
Professor Adei cited recent revelations of alleged misallocation and mismanagement in some state institutions as reference to his argument.
He emphasized the need for Boards to ensure Institutions adhere to best business practices.
“In Ghana, I am sure many scandalous once are going to appear because in the past eight days if you have been following our news items, you will find Boards and CEOs sharing $4million and other things. It is the Boards responsibility to make sure that what you are doing is ethical and legitimate” he insisted
Professor Adei expressed his concerns about the competence and composition of Boards that are formed in Ghana.
He said members of the Boards have the sole responsibility ensuring they are competent enough for the task and fit to occupy positions on the Board.
The former GIMPA Rector revealed this in his speech at the second Ghana CEO Summit in Accra on Tuesday.
The two day event was well attended by over 50 CEOs and top business executives across the country.
