Ghana: PETROSOL Appoints Former VALCO CEO as Board Chairman

PETROSOL has appointed Daniel Acheampong, the former Chief Executive Officer of Volta Aluminium Company Ltd (VALCO) and the second-largest aluminium smelter in Sub-Saharan Africa, as its Board Chairman.

He officially assumed the chairmanship role on Thursday, May 16, 2024.

Mr. Acheampong dedicated 36 years to VALCO, where he held various key roles and steadily advanced through the ranks. His hard work, performance, professionalism, ethical conduct, and exceptional leadership qualities led to his appointment as CEO of VALCO in January 2014.

He served diligently in this role for nearly a decade, retiring at the end of July 2023.

Before becoming CEO, Daniel Acheampong served as Deputy CEO in charge of Human Resources and Administration, Public, and Legal Affairs. Prior to this, he was the Director of Human Resources and Administration at VALCO.

A Human Resource practitioner by profession, Mr. Acheampong had nearly 30 years of experience in Human Resource Management and Strategic Leadership before assuming the CEO role at VALCO in 2014. In this position, he utilized his extensive internal and external networks to boost the confidence, commitment, and goodwill of major stakeholders towards VALCO’s operations, particularly regarding the company’s role in Ghana’s Integrated Aluminium industry

Prior to joining VALCO in 1987, Mr. Acheampong gained significant expertise in Contract and Administrative Law during his university studies and through his three-year tenure as an Administrative and Investigations Officer at the Office of the Ombudsman, now known as the Commission for Human Rights and Administrative Justice (CHRAJ).

In recognition of Mr. Acheampong’s outstanding contribution to VALCO, a new state-of-the-art steam boiler which VALCO commissioned in March 2024, was named after him by the company.

In the Ghanaian business community, Mr Acheampong is highly respected, as he served as the President of the Ghana Employers’ Association (GEA) from 2018 to 2024 (6 years), after having previously served as the first vice president.

He also served as the President of the Institute of Human Resource Management Practitioners, Ghana (IHRMP) from 2007-2011 (4 years), having previously served as the Institute’s Vice-President.

He is also highly respected by key players in the global aluminum smelter and allied industries.

Mr. Acheampong is a recipient of some high-profile awards and was inducted into the Corporate Ghana Hall of Fame in March 2022. He also received the Ghana Business Leaders Life Time Achievement Award in September 2023.

Mr. Acheampong brings to the PETROSOL Board a wealth of strategic leadership qualities, with a strong focus on performance and productivity, which he holds in high regard.

Having successfully served on various boards of key organizations, he will draw on these experiences to guide PETROSOL’s Board in achieving the company’s strategic objectives.

His previous board roles include serving as a Member of the Board of Directors of VALCO, Chairman of the Council of the Ghana Employers Association, Chairman of the Council of the Institute of Human Resource Management Practitioners, Ghana (IHRMP), Member of the National Tripartite Committee, and Member/Vice Chairman of the National Labour Commission (NLC), where he served as a Commissioner for 12 years.

He is currently in his second term on the Board of Trustees of the Social Security and National Insurance Trust (SSNIT) and serves on the boards of several other private firms.

Commenting on his appointment, Mr Acheampong said, “It is a great honour to be appointed to chair the Board of PETROSOL. Having accepted the challenge of serving on the Board, I wish on behalf of the team, to assure the Shareholders and all Stakeholders that we will do whatever it legitimately takes to positively transform the company to take its rightful place on the Ghanaian market and beyond.”

He further stated that, “Continuous improvement in the Corporate World is the name of the game” and that “all hands should be on deck as we move into the Change Management or Transformation mode.”

The former Chief Executive Officer of PETROSOL, Michael Bozumbil, said “We are delighted to have such a distinguished corporate leader to chair the reconstituted Board of PETROSOL, as it oversees the implementation of the company’s strategic plan for the next decade. This is because, besides the immeasurable wealth of experience he brings on board, his values perfectly align with PETROSOL’s core values of integrity, ethical conduct, professionalism, passion for excellence, empathy, respect for humanity, service quality delivery, and respect for the environment.”

Mr Bozumbil further stated that “I have had the privilege of working under the leadership of Mr Acheampong for over 4 years, serving also as an Executive Committee member of the Ghana Employers Association and can testify to his sterling leadership qualities, his humility, passion for good corporate governance and female leadership development, all of which are attributes dear to PETROSOL too”

PETROSOL Platinum Energy Ltd, formerly PETROSOL Ghana Ltd, is a leading privately-owned Ghanaian Oil Marketing Company, operating a network of over 100 fuel stations across the country and supplying bulk consumers of petroleum products.