a) The leadership style of the CEO appears to be autocratic or authoritarian. This is evident from his domineering nature in meetings, reliance on intellect alone without emotional engagement, and making radical changes without seeking support or input from others. In an autocratic style, the leader makes decisions unilaterally, often leading to resistance and low morale, as seen in the employee complaints and his eventual ousting.

A more appropriate leadership style could have been transformational leadership. This involves inspiring and motivating employees by creating a vision, engaging them emotionally, and fostering collaboration. It would have helped in gaining buy-in for strategic changes, especially in a ten-year-old company with established norms. For instance, in the Ghanaian banking sector, leaders at banks like Ecobank Ghana during post-2019 cleanup periods used transformational approaches to rally teams around digital transformation, aligning with BoG’s Corporate Governance Directive 2018, which emphasizes inclusive leadership for resilience.

b) Five people management skills required of managers at all levels, including the CEO, are:

1. Communication Skills: This involves clearly articulating vision, expectations, and feedback. Managers must listen actively and convey information transparently to build trust. For example, in Ghanaian banks like GCB Bank, effective communication during the DDEP (2022-2024) helped mitigate staff anxiety over job security, ensuring compliance with BoG’s directives on employee relations.
2. Emotional Intelligence: The ability to understand and manage one’s emotions and those of others. It enables empathy, conflict resolution, and motivation. A CEO with high emotional intelligence could have addressed employee concerns emotionally, as lacking this led to the failure in the scenario.
3. Delegation Skills: Assigning tasks based on strengths while providing support and accountability. This empowers teams and develops skills. In organizational hierarchies, it’s crucial for efficiency, aligning with Basel II/III principles adapted in Ghana for operational risk management.
4. Conflict Resolution Skills: Identifying and resolving disputes fairly and promptly. Managers use negotiation and mediation to maintain harmony. In practice, at Stanbic Bank Ghana, this skill was vital during mergers, preventing turnover and ensuring ethical practices under the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).
5. Coaching and Development Skills: Guiding employees through mentoring, training, and performance appraisals. This fosters growth and aligns with career management. CEOs must model this to drive organizational success, as per CIBG’s emphasis on human resource management in financial services.

c) Change Management Strategies the CEO could have deployed include:

1. Kotter’s 8-Step Change Model: Create urgency, build a guiding coalition, form a strategic vision, communicate it, empower action, generate short-term wins, consolidate gains, and anchor changes. He could have started by involving senior managers in coalition-building to gain support.
2. Stakeholder Engagement: Identify and involve key stakeholders early through consultations and feedback sessions. This would have addressed the lack of support, similar to how BoG mandates stakeholder analysis in strategic shifts post-2017 banking cleanup.
3. Communication Plan: Develop a multi-channel plan to explain changes, benefits, and address concerns emotionally. Regular town halls and emails could have prevented the storm of complaints.
4. Training and Support: Provide resources for employees to adapt, such as workshops. This builds capability and reduces resistance, aligning with change management under BoG’s Sustainable Banking Principles.
5. Monitoring and Adjustment: Use feedback loops to track progress and adjust strategies. This iterative approach ensures success, as seen in Access Bank Ghana’s recapitalization efforts under BoG Notice No. BG/GOV/SEC/2023/05.

d) Four roles and responsibilities of the Board of Directors:

1. Strategic Oversight: Setting and approving the organization’s strategic direction and policies. They ensure alignment with goals, as per BoG’s Corporate Governance Directive 2018.
2. Risk Management: Overseeing risk identification, mitigation, and compliance. In Ghana, this includes adherence to Liquidity Risk Management Guidelines, preventing issues like the UT Bank collapse.
3. CEO Appointment and Evaluation: Hiring, monitoring, and if needed, firing the CEO based on performance. As in the scenario, they responded to complaints, ensuring accountability.
4. Financial Stewardship: Approving budgets, audits, and ensuring financial integrity. This involves ethical reporting, crucial post-DDEP for Ghanaian banks’ recovery.

e) Two sources of power the CEO might have stood on:

1. Legitimate Power: Derived from his formal position as CEO, granting authority to make decisions and direct resources. He could have used this to initiate changes but needed to combine it with others for effectiveness.
2. Expert Power: Based on his knowledge and intellect, as he tried to change through intellect alone. However, without emotional engagement, it failed; in banking, experts like those at Barclays use this with collaboration for innovation under regulatory frameworks like Act 987