GOIL PLC inaugurated its new Board of Directors on March 19 in Accra. Chaired by Mr. Nana Philip Archer, the nine-member Board focuses on enhancing company growth and profitability. CEO Mr. Edward Bawa emphasized shareholder interests, as the company aims to adapt strategies and maintain market leadership. Recent initiatives include opening five new gas stations and achieving a notable profit in 2022.
On March 19, GOIL PLC, Ghana’s prominent oil marketing company, inaugurated a new Board of Directors in Accra during an Extraordinary General Meeting (EGM) attended by shareholders. The newly formed Board consists of nine members, emerging as key figures in guiding the company’s strategic direction. Mr. Nana Philip Archer, with over 20 years of executive experience in multinational firms, assumes the role of Chairman. The Board also includes other notable professionals such as Mr. Edward Abambire Bawa (CEO) and several distinguished doctors and executives.
Chairman Mr. Archer emphasized the importance of growth and profitability for GOIL in the coming years. He stated, “Our main vision has been to ensure that we deliver quality goods and services in the petroleum downstream and for the allied businesses that we have…” He asserted their commitment to ensuring operational efficiency and protecting the company’s strategic assets to secure market leadership in the downstream energy sector.
CEO Mr. Bawa noted the agenda for the inaugural board meeting, where managers will review the company’s status and propose strategic policies for approval. He highlighted shareholders’ expectations regarding share value appreciation and dividend payments as priority objectives. To this end, the management will assess existing strategies, making necessary changes to foster growth and enhance previously successful initiatives.
The EGM facilitated both in-person and online participation, allowing shareholders to vote on the nine Board members elected to oversee the company’s future. Notably, in 2023, GOIL PLC launched five Auto Gas stations across the country, ensuring that customers benefit from modern and safe gas facilities. Last year, the company achieved a net profit after tax of GHC 123.89 million, indicating a solid financial performance amidst evolving market dynamics.
In conclusion, the inauguration of the new Board of Directors at GOIL PLC marks a significant step towards enhancing the company’s governance and strategic direction. Under the leadership of Mr. Nana Philip Archer and Mr. Edward Abambire Bawa, the Board aims to focus on growth, profitability, and shareholders’ interests. The management’s commitment to innovation and operational efficiency demonstrates a proactive approach to maintaining market leadership in the petroleum sector, while past financial achievements indicate a robust foundation for future success.
Original Source: gna.org.gh
