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    Friday, August 31, 2012

    TOP PHARMACEUTICAL COY FIDSON IN CRISIS



    The CEO of giant pharmaceutical company, Fidson Plc, Fidelis Ayebae is currently witnessing firsthand the harmful effects of distrust and envy as about 18 staff of the company resigned last month following long standing grievance against the General Manager, Ali Balogun.
    They say people who do not learn from history are doomed to repeat it. We learnt that early this year when Ali Balogun was appointed as the GM by Fidelis Ayebae, and moved from his former office, National Sales Manager, his promotion was greeted with protest by several staff of the company. Notable among the protesters was the former Regional Sales Manager, David Otokpa who even came up with documentary evidence such as bank tellers, which he claimed he used to pay the company’s proceeds into Balogun’s personal bank account following the GM’s order while he was his direct boss as the National Sales Manager.
    Apart from Otokpa, it was said that several other aggrieved party produced evidence to nail Balogun, and discourage the CEO from promoting him to GM but Fidelis stuck to his gun. This led to the resignation of several staff, including Otokpa then.
    And last month, the situation reared its ugly head when about 18 staff of the company, including the Chief Accountant, one Ikem and Human Resources Officer, Lanre Awolesi resigned owing to issues they allegedly had with Ali Balogun. The issues we were told was about the GM allegedly implicating them in alleged corrupt practices perpetrated by him.
    Though Balogun is said to be very close to the element that determines the tide of Fidson’s history, this mass resignations signified that all is not well in the company, which does not help its planned private placement.
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