Accra Hearts of Oak will shortly announce Frank Nelson as its new Chief Executive Officer, supersport.com understands. The decision was taken at an emergency board meeting on Tuesday in response to the vacuum created by the lack of an occupant to the position.
After weeks of speculation in which many names were mentioned, the former vice chairman is almost through to getting the nod. The reasoning behind this imminent appointment is mainly monetary as Hearts' board were faced with the dilemma of how much a substantive CEO will be paid.
Fred Crentsil, the former CEO, refused to take any salary from the club during his tenure, but getting a new man will always require enticements packages. The current financial state of the team has meant the Board has had to consider getting a new CEO from within its eleven members, just to avoid paying huge amounts to any prospective appointee.
As a result, Frank Nelson Nwokolo was posited strongly for the position, because he has several years of experience in the managing of many aspects of the club's affairs.He has a served in all Hearts' management committees in recent years. Nelson is also the biggest individual shareholder after Strategic Africa Securities (SAS), the corporate entity that holds over 70 percent equity in the club.
The board meeting held yesterday also briefly discussed the incoming sponsorship from SAS, which supersport.com announced last week. That deal will see the investment firm become the new interim headline sponsor on a one year deal for GH� 50,000 ($ 26,500) a month.
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