The Board of GOIL has denied booting out the immediate acting Managing Director of the company, Kojo Bonsu for non performance. There have been media reports Kojo Bonsu has been axed because he failed to live up to expectation as well as trying to stall the appointment of a substantive MD for the company. But a source close to the Board told JOYBUSINESS Mr. Bonsu personally stepped aside after the expiration of his contract on January 31. According to the source if it had not been a court case pending against one David Dzanie who was previously appointed by the board, he would have taken over from the beginning of this month. The source added that the board even wanted Mr. Bonsu to stay on a little longer because he performed creditably well during his six month reign at the company. Mr Bonsu was appointed as acting MD of GOIL last July after Mr Duah Agyeman retired from the company. Meanwhile the board of GOIL has formally announced the appointment of lawyer Chris Ackummey as acting Managing Director. He is expected to act until a substantive MD is appointed.