Ghana’s indigenous oil marketing company, GOIL PLC, Wednesday inaugurated a new Board of Directors to manage the affairs of the company.

The nine-member Board was endorsed at an Extraordinary General Meeting (EGM) of Shareholders in Accra.

Nana Philip Archer, a seasoned executive with over 20 years of experience in multinational corporations, is the Chairman of the Board.

Other members are Mr Edward Abambire Bawa (Group Chief Executive Officer), 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.

Mr Archer, speaking after the meeting, emphasised the growth and profitability of the company in the years ahead.

“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…

“Once we do this properly, we believe that our shareholders would be happy,” he said, highlighting plans to ensure the efficiency of other company assets.

“GOIL is a very strategic company so we must do everything to ensure that we protect this asset and position ourselves to take the market leadership in the downstream energy sector,” he added.

Mr Bawa, the CEO, said the first Board Meeting would have managers present the state of the company and make some policy suggestions for approval.

“Every shareholder wants appreciation of the share value on the stock exchange, and payment of dividends…these are the two things we would be working towards to see how we can get them sorted,” he said.

He added that the company would change strategy where needed and improve on successes attained by the previous management.

“Areas that we worked and worked very well, we will just improve on them…strategies that we need to change, we will change them because the ultimate aim is to ensure that there is an appreciation of share on the stock exchange,” he noted.

Shareholders joined the meeting online and in-person and participated in voting processes for all nine Board Members.

In 2023, the GOIL PLC commissioned five Auto Gas stations nationwide to ensure customers access modern and safe gas facilities. In 2022, the company recorded a net profit after tax of GH¢123.89 million.