個案資料
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SIC Insurance Company Limited: Corporate Governance
內容大綱
In March 2013, SIC Insurance Company Limited (SIC), a Ghanaian insurance company, appointed its first female chief executive officer, Doris Awo Nkani. Under her tenure, SIC issued a credit guarantee bond to ITAL Construct International in favour of Ivory Finance for a six-month period. However, ITAL Construct International defaulted on the loan, and Ivory Finance called on SIC to redeem its credit guarantee bond. Due to the failure of SIC and ITAL Construct International to honour their obligations, Ivory Finance proceeded to court in November 2013. Over a year later, in November 2014, the parties agreed on an amount to be paid to Ivory Finance through a consent judgment. This event culminated in the board considering in February 2015 whether to retain or fire its chief executive officer. How had this situation occurred? Should the board of directors have taken action earlier? How could the company ensure that a similar situation would not recur in the future?
學習目標
This case is suitable for a graduate course on corporate governance, financial risk management, and development finance. The case is also suitable for repeating director training programs. The case will help students assess the corporate governance of a financial institution that is bench-marking against codes of corporate governance such as Securities and Exchange Commission Ghana’s 2010 guidelines on best practices in corporate governance. After completion of the case, students will be able to<ul><li>apply the theories and philosophies of corporate governance in a real-world setting;</li><li>identify and discuss the nature of corporate governance in firms, in relation to internationally accepted best practices and codes of conduct such as the Securities and Exchange Commission Ghana guidelines;</li><li>recognize weaknesses in corporate governance and make recommendations for improvement; and</li><li>discuss how corporate governance can affect an organization’s performance.</li></ul>