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GOIL Board Of Directors Apologizes To President Akufo-Addo

The Board of Directors of Ghana Oil (GOIL) has apologised to President Nana Addo Dankwa Akufo-Addo for a statement the state firm authored accusing the president of breaching procedures in appointing Mr Osei Prempeh as the new Chief Executive Officer (CEO) of the company.

The apology follows a statement issued by the presidency to clarify that it has not appointed a new CEO for the company contrary to reports published on Ghanaweb upon which the Board Chairman, Professor William Asumaning, issued the statement to criticise Mr Akufo-Addo and his government.

Professor Asumaning had said GOIL is a public-listed company on the Ghana Stock Exchange with its own regulations, which makes it impossible for the president to appoint or dismiss a CEO without observing the necessary procedures.

However, the presidency clarified in its statement signed by Director of Communications Eugene Arhin that the Flagstaff House was disappointed in Professor Asumaning for issuing the statement based on media reports.

It could be recall that, in reacting to a story published on Ghanaweb under the headline, “Nana Addo Picks New Heads for Forestry Commission, Ghana Health Service and GOIL,” the chairman of the GOIL Board of Directors accused president Akufo-Addo of breaching procedures in his appointment of the said new Chief Executive officer of the company.

According to William Asumaning GOIL is a public listed company on the Ghana Stock Exchange with its own regulations which makes it impossible for the president to appoint or disappoint a CEO without observing the necessary procedures.

To him, the president did not follow due procedures in his new appointment of the GOIL CEO.

The said reports also suggested the president made appointments to the Forestry Commission and the Ghana Health Service.

According to the Board chairman, the Board was not aware of the observance of processes as stated in the regulations leading to the appointment of any CEO and that “we as a Board have not made any such appointment.”

However, Eugene Arhin in his release indicated that, “One would have hoped, in the interest of best practices, that the issuance of such a statement by Prof. William Asumaning would have been hinged on concrete evidence, in the form of appointment letters, and not mere speculation and conjecture by an online publication.”

He stated that the statement issued by the Board Chairman of GOIL was “unfortunate and completely needless, to say the least.”

He however corrected the erroneous impression that indeed, the President made such appointment and stated that, “For the avoidance of doubt, I wish to state that the President of the Republic, Nana Addo Dankwa Akufo-Addo, has not appointed a new CEO of GOIL.”

Eugene Arhin also noted that should the President decides to appoint a new CEO, it will be done in accordance with laid down procedures.
The letter dated 28 February and signed by Prof Asumaning said: “We the members of the Board of Directors of GOIL, do hereby, render our sincere apologies to Your Excellency for any embarrassment caused by the board’s statement in response to GhanaWeb’s publication on 24 February 2017”.

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