Kwame Kyei kept hold of his position as chairman of the Asante Kotoko Board of Directors because of his benefaction of sole financing the club the past three years, Manhyia has revealed.
The businessman's tenure as Executive Chairman of the club expired in December 2019 but submitted a report of his stewardship in April.
Manhyia was unhappy with his administration so later set up a three-man committee to investigate the club's affairs and make recommendations on the way forward.
Despite being headed for the exit door, Kyei was retained because he sunk a lot of money from his pocket to keep the club afloat.
''Dr. Kwame Kyei, Chairman of Unity Oil Group is retained as Chairman of the Board in recognition of the fact that he has single-handedly financed the Club's operations over the past three years,'' the statement read.
''However, he will now work in a corporate setting with a Board carefully chosen to blend continuity with a combination of corporate dynamism and integrity, financial prudence and professional expertise.''
It continued: ''His Majesty has expressed his gratitude to two eminent bankers and two leading business executives who have agreed to lend their expertise and corporate clout to the Board.
''They are joined by one corporate lawyer and two sports experts, one from Kwame Nkrumah University of Science and Technology and the other a woman physical education specialist from Sunyani Technical University who has worked with the national women's team.''
Members of Asante Kotoko Board of Directors:
Dr Kwame Kyei Chairman, Unity Group
Jude Arthur (Board Chairman for Ghana Commercial Bank)
Kwadwo Boateng Gyamfi (Board Chairman Ghana EXIM Bank),
Kwasi Osei Ofori (Chairman Erdmark Group/ CEO Rocksure Mining Ltd)
Lawyer Kwamina Mensah (Corporate Lawyer)
Alhaji Lamine (Businessman)
Joseph Yaw Adu (Retired Director of Sports at Kwame Nkrumah University Science and Technology)
Baffour Kwame Kusi (Otumfuo's Ankobeahene)
Evelyn Nsiah Asare (Acting Head of Sports at Sunyani Technical University)