GOIL PLC has inaugurated a new nine-member Board of Directors in Accra, headed by Chairman Mr. Nana Philip Archer. The Board aims to enhance growth and profitability, focusing on delivering quality services and improving shareholder value. CEO Mr. Edward Abambire Bawa emphasized strategic changes to maximize the company’s performance while ensuring dividends and share appreciation.
On March 19, 2023, GOIL PLC, Ghana’s prominent oil marketing firm, inaugurated a new Board of Directors at an Extraordinary General Meeting (EGM) held in Accra. The newly appointed nine-member Board, led by Chairman Mr. Nana Philip Archer, consists of experienced individuals from various sectors, including the Group CEO Mr. Edward Abambire Bawa and esteemed professionals such as Dr. Thomas Kofi Manu and Dr. Evelyn Lamisi Asuah.
Mr. Archer, during his remarks post-meeting, underscored the company’s commitment to growth and profitability in the forthcoming years. “Our main vision has been to ensure that we deliver quality goods and services… We believe that our shareholders would be happy,” he emphasized, outlining the importance of asset efficiency to maintain GOIL’s strategic position in the downstream energy sector.
CEO Mr. Bawa announced that the first Board Meeting would involve managers presenting the company’s status and proposing policies for board approval. He remarked on the necessity of enhancing shareholder value on the stock exchange and ensuring dividend payments, stating they will focus on these aspects to achieve desired outcomes. “…the ultimate aim is to ensure that there is appreciation of share on the stock exchange,” he added.
The EGM saw participation from shareholders who attended both online and in-person, voting on the Board Members’ appointments. Notably, in 2023, GOIL PLC inaugurated five Auto Gas stations nationwide, aiming to provide modern gas services and safety to customers. In the previous year, the company reported a net profit after tax amounting to GHC 123.89 million.
The inauguration of the new Board of Directors at GOIL PLC marks a strategic move to enhance the company’s growth and profitability in the coming years. With experienced leadership and a focus on efficiency, the board aims to satisfy shareholders through increased stock value and dividends, thereby solidifying GOIL’s market leadership in the downstream energy sector. Continued innovation and strategy refinement will be pivotal for the company’s success as they adapt to industry demands.
Original Source: gna.org.gh
