Professor David Millar, founder of the Millar Institute for Transdisciplinary and Development Studies, has proposed a significant shift in the way Chief Executive Officers (CEOs) are appointed and held accountable. He suggests that instead of receiving appointment letters, CEOs should be given performance contracts that outline specific targets and goals.
According to Professor Millar, the current practice of providing CEOs with generous salaries and allowances without clear performance expectations has led to underwhelming results. “In Ghana, CEOs are given good salaries and many allowances, but many do not improve the various enterprises,” he noted.
Professor Millar emphasized that performance contracts would provide a clear framework for CEOs to work towards specific objectives, such as increasing profits, expanding business operations, or improving efficiency. This approach, he believes, would be more effective than simply providing a blank appointment letter with a fixed tenure.
“I have always advocated that CEOs should be given performance contracts instead of appointment letters,” Professor Millar explained. “For instance, if you appoint me as CEO, you give me a performance contract that outlines specific targets, such as delivering 20% additional profit within six months or doubling income within a year. This approach is more motivating than just giving a blank letter that says I’m the CEO for four years.”
Professor Millar made this statement at a workshop in Bolgatanga organized by RISE-Ghana to promote post-election accountability in the Bolgatanga Municipality, Nabdam, and Bongo districts. The initiative, known as “Democracy 360,” is part of the STAR-Ghana-led Democracy and Inclusive Governance project, funded by the Foreign, Commonwealth & Development Office (FCDO).
The 15-member intersectoral body comprises representatives from civil society organizations (CSOs), media, youth, and marginalized groups. During the workshop, the group developed a tracking tool to monitor the progress of the three Members of Parliament (MPs) in these districts and assess their fulfillment of campaign promises.
Source: A1Radioonline.Com | 101.1MHz | David Azure | Bolgatanga
