The Board of Directors (BoD) of the Tema Oil Refinery (TOR) has refuted the General Transport and Petroleum Chemical Workers Union’s (GTPCWU) claims of mismanagement.

GTPCWU accused the Board of Directors of mismanaging and opposing the proposed lease deal with Torentco Asset Management Group.

But the Board has in a statement condemned the allegations.

The Board has said it takes serious exception to the threats issued and treats the act with all the disdain they deserve.

“Describing the Board as incompetent by the Union of GTPCWU is therefore an affront to their very dignity and must be treated with contempt.

“This notwithstanding, the Board has taken the allegations seriously and has commenced investigations to ascertain the circumstances leading to the media reports and will take whatever appropriate action is required to clear its reputation.”

It insisted the allegations made were false, unfounded, and derogatory as well as views them as an attack on the fundamental freedom of its members and a threat to their very lives.

“The plain insults and calling of names by executives of the Union of GTPCWU is a dent in the hard-won reputation of the distinguished members of the Board. It has exposed them to public ridicule and contempt,” the statement noted.

The statement further argued the BoD was composed of highly qualified and respected individuals who had dedicated their time and expertise to guide and oversee the Company’s strategy, performance, and governance.

“The BoD has always acted with integrity, professionalism, and in the best interest of the Company, its shareholders, and stakeholders generally, adding it had worked assiduously from the day it was appointed and has never relented on its duty to serve TOR; neither has it engaged in any misconduct or abuse of power as it continues to work and identify opportunities to add value to the premier Refinery of the Country,” the statement added.

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Read the full statement below:




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