A new Board of Directors was established on Wednesday to oversee the operations of GOIL PLC, Ghana’s domestic oil marketing firm.
At an Extraordinary General Meeting (EGM) of Shareholders in Accra, the nine-member Board was approved.
The Chairman of the Board is Mr. Nana Philip Archer, a seasoned executive with more than 20 years of experience in global organizations.
The group chief executive officer, Mr. Edward Abambire Bawa, Dr. Thomas Kofi Manu, Dr. Evelyn Lamisi Asuah, Mr. Augustine Angaa Dayuo, Dr. Peace Mamle Yoko Tetteh, Mr. Sylvester Kotey, Mr. Afetsi Awoonor, and Dr. Kwamena Minta Nyarku are among the other members.
Speaking following the meeting, Mr. Archer emphasized the company’s future development and profitability.
Our primary goal has been to supply high-quality products and services to the downstream petroleum industry as well as to our affiliated companies.
He highlighted efforts to guarantee the effectiveness of other firm assets and stated, “Once we do this properly, we believe that our shareholders would be happy.”
Since GOIL is a highly important business, he continued, “we must take every precaution to safeguard this asset and set ourselves up to become the market leader in the downstream energy sector.”
The CEO, Mr. Bawa, stated that management will report the company’s status and propose certain policies for approval at the first board meeting.
“Every shareholder wants dividend payments and an increase in the share value on the stock exchange. We would be working toward these two goals to see how we can resolve them,” he stated.
He went on to say that the business will improve on the achievements of the previous management and adjust its approach as necessary.
“We will just enhance the areas where we worked and performed really well. The ultimate goal is to guarantee that shares on the stock exchange appreciate, therefore we will alter any techniques that need to be changed,” he said.
Both in-person and electronically, shareholders attended the meeting and took part in the voting procedures for each of the nine board members.
To guarantee that consumers have access to contemporary and secure gas facilities, the GOIL PLC put five auto gas stations countrywide into service in 2023. The business made GH₵123.89 million in net profit after taxes in 2022.
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