GOIL PLC appointed a new nine-member Board of Directors led by Mr. Nana Philip Archer. They focus on growth, profitability, and strategic asset management in the downstream energy sector. The CEO outlined plans to enhance shareholder value through dividends and improved strategies. GOIL recently launched five Auto Gas stations and achieved a net profit of GHC 123.89 million in 2022.
GOIL PLC, Ghana’s leading indigenous oil marketing firm, appointed a new Board of Directors on March 19 during an Extraordinary General Meeting (EGM). The nine-member Board includes seasoned professionals such as Mr. Nana Philip Archer, who will chair the Board, and other notable members, including Mr. Edward Abambire Bawa as Group CEO, along with Dr. Thomas Kofi Manu, Dr. Evelyn Lamisi Asuah, and others.
Chairman Mr. Archer highlighted the company’s focus on growth and profitability, stating, “Our main vision has been to ensure that we deliver quality goods and services in the petroleum downstream.” He emphasized the importance of protecting GOIL’s strategic assets to secure its market position in the downstream energy sector.
CEO Mr. Bawa indicated that the inaugural Board Meeting would include discussions on the company’s current state and future policies. He noted, “Every shareholder wants appreciation of the share value on the stock exchange, and payment of dividends.” These points will be central to their agenda moving forward.
Bawa also mentioned adjustments to strategies as necessary, aiming to enhance the company’s performance. He stated, “…strategies that we need to change, we will change them.” This approach seeks to ensure the ongoing appreciation of shares for stakeholders.
In 2023, GOIL PLC launched five modern Auto Gas stations nationwide to enhance customer access to safe gas facilities. Notably, in 2022, the company reported a substantial net profit after tax of GHC 123.89 million, reflecting its ongoing business success and commitment to shareholder value.
GOIL PLC’s new Board of Directors aims to foster growth, profitability, and strategic asset protection as it navigates the competitive energy sector. With experienced leadership, the company plans to focus on shareholder value through dividend payments and share appreciation. The inauguration signifies a pivotal moment for GOIL as it continues to expand and enhance its service offerings.
Original Source: gna.org.gh
