GOIL to improve value on shareholders’ investment

Goil Investment

Mr Reginald Daniel Laryea, new Chairman of the Board of Directors of GOIL Company Limited has noted that the reconstituted board will work to improve on the value of shareholders’ investment and pursue higher profitability.

Mr Laryea promised shareholders and customers that the new team would build on the hard work and success of the previous Board, “the GOIL team will leverage on its strong brand and resilience to bring in more premium products that will attract new consumers”.

The New Board Chairman stated at GOIL’s Shareholders extraordinary general meeting, which approved the appointment of four personalities, including; Mr Laryea to replace retiring directors.

Mr Laryea, who is an Advertising and Marketing expert noted that the new board would work hard to ensure that GOIL continued to be the leading OMC in the country, “GOIL will continue to take giant step ahead in the petroleum industry”.

The new GOIL Board of Directors are: Mr Laryea who is a former President of the Advertising Association of Ghana as the new Chairman, Mr Kwame Osei-Prempeh, GOIL Group CEO and Managing Director; Mr. John Boadu, General Secretary of the New Patriotic Party; and Mr Edwin Alfred Provencal, Managing Director of the Bulk Oil Storage and Transportation (BOST) Company Limited.

Others are: Ms Angela Forson, Mr. Beauclerc A. Williams; Mr. Stephen Tengan; Mrs. Mabel A. Amoatemaa Sarpong; and Nana Ama Kusi-Appouh who serves as Secretary to the Board.

The GOIL Management team is headed by Mr Osei-Prempeh – MD and Group CEO; Mr. Alex Josiah Adzew, Chief Operating Officer- GOIL; Mr. Gyamfi Amanquah, Chief Operating Officer-GOENERGY; Mr. Kwabena Adjei, Chief Finance Officer; and Mr. Cyril Opon, Head of HSSE.

Others are: Mr. John B. Tagoe, Head of Technical and Special Products, Mr. Kofi Ansah Otoo, Chief Internal Auditor; Mr. Martin Olu Davies, Head of Admin and Human Relations; Mr. Marcus Deo Dake, Head of Corporate Affairs; Mr. Anthony Twumasi, Head of Research, Planning and IT; and Mr. Benjamin Ocansey, Head of Fuels Marketing.

The rest are: Nana Ama Kusi-Appouh, Solicitor Secretary; Mr Denis Nii-Komiete Amui, Head of Operations; Mr. Alphonso Okai Jnr, Head of Technical Services; Mr. Benjamin Torkornoo, Technical Consultant to Group CEO and MD, Mr. Kingsley Ansah, Head of Estates.

Mr Osei-Prempeh acknowledged the expertise the new board would be bringing onboard to the GOIL team.
In an interview with the Ghana News Agency, Mr Osei-Prempeh said GOIL would continue to focus on its mission of marketing quality petroleum and other energy products and services in a safe, ethical, healthy, environmentally friendly and socially responsible manner.

He said GOIL had gone through series of changes, all aimed at transforming it into an efficient and profitable entity in the Oil and Gas industry with the customer at the core of its business.

Mr Osei-Prempeh said the company had registered three subsidiaries- GOEnergy Company Limited, a Bulk Oil Distribution Company (BDC), which distributes petroleum products to OMCs.

Others are GOIL Offshore Ghana Limited, an upstream subsidiary for exploration operations in Ghana’s Deep-water Cape Three Points Bloc, and GOIL Financial Services Limited, which provides an electronic payment system and aims to provide money transfer services.

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