Deputy MD of Chanas, D.Pheulpin resignes

The Deputy General Director of Chanas insurance, leader of the Cameroonian market in IARDT, resigned in July, say sources within the company which is going through a managerial crisis unparalleled more than a year.

A crisis between the CEO, Jacqueline Cassalegno, nicknamed "Iron Lady" and the company's administrators such as the National Hydrocarbons Corporation (SNH) had a hand in his resignation.

According to the insurance corporation the causes of this battle for the control of Chanas insurers is because of the losses incurred by the company in late 2013, with deficit estimated at about 2 billion CFA francs.

According to our sources, a general meeting of shareholders of Chanas insurance was held August 27, in Douala, to adopt the lackluster financial statements for the year 2013.

The resignation of the Deputy General Director of Chanas comes just over three months after the firing of the former CEO, Henri Ewélé, who has only held the position six months, before being replaced by Albert Pamsy, appointed in April 2014.