Several officials at the National Oil Company of Liberia or NOCAL have tendered in their resignations as the company sinks deeper into financial crisis, whilst its President & CEO, Dr. Randolph A.K.W. McClain heads for retirement.
Their resignations come just days after President Ellen Johnson-Sirleaf endorsed the company’s board Sustainable Action Plan or SAP, aimed at restructuring and reducing the number of staffs. Those who tendered their resignations are Vice President of Administration, Mrs. Vida Mensah, the acting Vice President of Corporate Social Relations, Mr. Pete Norman and the Vice President of Public Affairs, Mr. Lamini A. Waritay, President of the Company.
Their resignations also come just hours before the company could announced an interim management team headed by Cllr. Althea Sherman, Chief Operating Officer to lead NOCAL out of its current missery. Other members appointed by the Board of Directors to head the Interim Transitional Management Team are the Vice President of Technical Services, Mr. Rufus Tarnue, and the Vice President of Finance, Mr. Karmo Ville.
In a statement issued on NOCAL’s website over the weekend, the company said the decision to appoint an interim management team amidst the resignations was made at a Thursday August 27, general staff meeting by the Vice Chairman of the Board, Mr. Fred Bass Golokai.
Mr. Golokai said the move was in keeping with a mandate of President Sirleaf to restructure the company. The Interim Management Team, Mr. Bass said will among other responsibilities, implement the Sustainable Action Plan (SAP) of the company, under the supervision of an Interim Board of Directors, which has also been appointed by the President.
The Interim Board, it said is head the company’s current Chairman, Cllr. Seward Cooper. Other members are Cllr. Peter K. Jallah, the minister of Finance & Development Planning, Mr. Amara Konneh, as well as Lands, Mines & Energy minister, Mr. Patrick Sendolo.
The Interim Transitional Team under the guidance of the Board will take on the immediate task of implementing the SAP, including payment of severance to employees at all levels of the organization. Mr. Golokai also informed staff at the meeting that the retirement of Dr. McClain was also in line with the ongoing restructuring plan of NOCAL.
In the statement issued, Mr. Golokai thanked the outgoing officials NOCAL for their services to the company and the country and urged the staff to cooperate with the new Interim management team for a smooth transition.
The statement also noted that the outgoing CEO Mr. McClain thanked the Board, management and staff for the support during his tenure. He spoke of the significant progress made in the sector which has attracted top-notched companies into the emerging oil industry of the country. Dr. McClain welcomed the appointment of the transitional management team, adding, “I have confidence in their ability to carry out the tasks to which they have been assigned.”
The head of the Interim Management Team, Cllr. Althea Sherman, lauded the outgoing President & CEO as well as the three outgoing Vice Presidents for their contribution. Cllr. Sherman also thanked employees for their patience and cooperation during the restructuring process.-Written by Othello B. Garblah