PETROSOL appoints former CEO of VALCO as its board chairman

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

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

Mr. Acheampong, who spent 36 years in VALCO, playing various key roles, rose through the ranks to senior leadership and by dint of hard work, performance, professionalism, ethical conduct, and excellent leadership qualities, was appointed as the CEO of VALCO in January 2014.

He served diligently for almost a decade in this position and retired at the end of July 2023.

Before becoming the CEO, he served as the Deputy CEO in charge of Human Resources and Administration, Public, and Legal Affairs, after having previously served as the Director of Human Resources and Administration of VALCO.

Mr. Acheampong is a Human Resource practitioner by profession and before assuming the role of CEO of VALCO, had had close to thirty (30) years of contemporary experience in the field of Human Resource Management and Strategic Leadership. Thus, on becoming the CEO of VALCO in 2014, he leveraged all his internal and external influences to bring about increased confidence, commitment and goodwill of major stakeholders towards VALCO’s operations and in particular, towards the Company’s status as the anchor for the implementation of Ghana’s Integrated Aluminium industry.

Before joining VALCO in 1987, Mr. Acheampong acquired considerable know-how in Contract and Administrative Law, both at the University and while working for three years as an Administrative and Investigations Officer at the Office of the Ombudsman, now 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 aluminium 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, focused on performance or results, as productivity occupies a pride of place in his heart.

Having successfully served on various boards of some key organizations, he will be bringing those experiences to guide the Board of PETROSOL to ensure the achievement of the company’s strategic objectives.

Some of the Boards/Councils/Commissions he served on include Member, Board of Directors of VALCO; Chairman, Council of the Ghana Employers Association; Chairman, Council of the Institute of Human Resource Management Practitioners, Ghana (IHRMP); Member, National Tripartite Committee; and Member/Vice Chairman of the National Labour Commission (NLC), where he served for 12 years as a Commissioner of the NLC.

He is currently serving a second term on the Board of Trustees of the Social Security and National Insurance Trust (SSNIT) as well as on the Boards of some other private firms.

Mr. Acheampong graduated with a First Class Honours Degree in Business Administration from the University of Ghana Business School, (UGBS) in 1984, majoring in Management.

With his wealth of contemporary experience in Strategic Human Resource Management and Leadership, Mr Acheampong holds a global perspective of issues, given his solid professional/executive post-graduate credentials obtained from the Business Schools of the University of Michigan, Harvard University and the Centre for Creative Leadership, all in the United States of America.

With productivity so dear to him, he also had a stint in Productivity studies at the Botswana National Institute of Productivity.

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.

Daniel Acheampong, Board Chairman