Former SIC MD drops legal challenge over dismissal
By DL News
Published
1 min read
Initially, she had taken legal action against the company and its newly appointed acting MD, arguing that her removal was unjust and violated corporate governance principles.
Hollistar Duah-Yentumi, the former Managing Director of SIC Insurance Company Limited, has decided to withdraw her legal case contesting her dismissal by President John Mahama.
Reports suggest that this move follows a crucial meeting held earlier today, February 6, 2025, involving key stakeholders in the dispute.
It also reveal that the parties have reached an understanding of how to resolve the matter privately, avoiding further litigation.
As part of the agreement, Duah-Yentumi has also retracted her lawsuit opposing the appointment of James Agyenim-Boateng as the new Managing Director of SIC Insurance.
Initially, she had taken legal action against the company and its newly appointed acting MD, arguing that her removal was unjust and violated corporate governance principles.
In her legal filing on February 4, Duah-Yentumi asserted that her appointment was contractually secured for a four-year term, set to end on January 1, 2028. She insisted that any decision regarding her tenure should require approval from the Board of Directors or a shareholder resolution at an Annual General Meeting.
With the court case now withdrawn, both parties are expected to finalize the settlement terms privately.
