It has emerged that the salary of the Chief Executive Officer of Ghana Cocoa Board (COCOBOD), Joseph Boahene Adu, has been slashed by 30 percent.

The Board Chairman of COCOBOD, Hackman Owusu-Agyeman revealed this on Adom FM’s morning show, Dwaso Nsem programme Thursday.

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The decision, he noted, was reached due to their inability to pay the
existing monthly salary of GH¢70,000 the previous CEOs were taking.

Aside the CEO, Mr. Owusu-Agyemang said the salaries of Deputy Directors have also been slashed to ensure values for money.

He added that salaries being paid to former CEO and other managers of the company were outrageous and not sustainable.

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The COCOBOD CEO noted that despite the cut some top managers of COCOBOD will still earn more than the president and other Article 71 office holders which is pegged around GH¢22,000.

He was however happy the current CEO, Joseph Boahene Adu and other Directors have no qualms about the salary reduction.

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Mr Owusu Agyemang also revealed that board members of COCOBOD take a monthly salary of GH¢2,000 with the Chairman taking GH¢2,500, adding the reduction in salaries has saved the company some money.

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