HealthPlus defends Okoro’s appointment as CTO, says George remain board member
HealthPlus Limited has said its decision to appoint Chidi Okoro as its new Chief Transformation Officer (CTO) after terminating the appointment of former CEO Mrs Bukky George did not violate any Nigerian law.
The company board said the decision to remove George was made in full compliance with Nigerian law through a process of engagement which the Board sought to address multiple issues on how the company was being managed.
“Despite a series of significant breaches of the terms of Mrs.George’s engagement as CEO, the Board explored a range of options that would enable her to continue to play an alternate leadership role,” the board said in a statement.
The board stated that an amicable resolution between the company and George was not going to be possible as the multiple issues persisted which required that urgent action was required to avoid adverse impact on the entire business, including customers, employees, suppliers, and other key stakeholders.
“As a result, the majority of the Board of Directors of the Company determined that a change of leadership was required if HealthPlus was to achieve its strategic goals and the former CEO’s appointment was terminated in accordance with its terms,” the board said.
The board stated that George, who continues to serve on the board, performed below their expectation to “key performance targets” which “were never achieved” by the former CEO and made Alta Semper Capital (ASC), owners of the company since 2018 “to provide the business with financial support through growth capital.”
HealthPlus board accused George of attempting “to force ASC to restructure the existing binding contracts governing their relationship – agreements “despite a pressing need for cash in the Company.”
The board, however, said the company’s original vision can still be achieved under new leadership and an enhanced management structure, for the benefit of all stakeholders.
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