A former Rector of the Ghana Institute of Management and Public Administration (GIMPA), Prof. Stephen Adei, has advised Board members of corporate institutions to stand their ground and insist that the right things are done.
Having served on the boards of various organisations, Prof. Adei on Footprints on Citi TV admonished board members of corporate entities to uphold the interest of their outfits above all others.
“People do not understand what being a director is. It entails sharing your experience with executives. You do not go and manage it. You meet as a board and share your experience once in a while. You are to serve as a springboard to the executives. Your only interest should be in the welfare of the corporation and nothing else. It is against corporate governance and principles to seek to benefit from your position.”
He admitted that choosing the right path may come with opposition, but maintains that it is more fulfilling.
“As a board member, I insist on putting the interest of the organisations I serve with first. Sometimes I have troubles, sometimes I am thrown out, but I would like to be thrown out rather than to compromise.”
He said serving on a board should be seen as a responsibility to contribute to the success of that company and not an opportunity to make money.
“Unfortunately, in our political space being appointed as a Board member is seen as a reward or favour, but not necessarily because of the individual’s knowledge and capacity. This should not be the case. It should be seen as a responsibility. It should cost you. It should not be an avenue for earning a living. Or else, you will be compromised. This is one of the biggest challenges in corporate governance in Ghana.”
Prof. Stephen Adei was appointed Chairman of the National Development Planning Commission (NDPC).
He also served as Board Chairman of the Ghana Revenue Authority between October 2019 and August 2021.
Prof. Adei has expertise in leadership, governance, public management, finance, economics, marketing, and marriage counseling.