The Board of GOIL has dismissed media reports suggesting President Nana Akufo-Addo has appointed a new CEO to head the company.

The board also stated emphatically that is it now aware of the appointment of a new CEO in line with the GES regulations.

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The statement follows a publication claiming that the president has appointed Mr Osei Prempeh, a former Attorney General under the John Kufuor administration, as the CEO of GOIL.

The statement said: "Information available to the GOIL Board per a publication on Ghanaweb on Friday, the 24th of February, 2017 captioned “Nana Addo Picks New Heads for Forestry Commission, Ghana Health Service and GOIL” indicates that the new CEO appointed for GOIL is one Mr Osei Prempeh.

"The Board would like to draw the attention of the SHAREHOLDERS and the public to the fact that GOIL is a public listed company on the Ghana Stock Exchange with its own Regulations.

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"The Regulations state the process through which a CEO can be appointed or removed."

"The Board would like to state emphatically that it is not aware of the observance of such 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.