ZEN Petroleum Limited has announced the appointment of respected corporate leader Frank Adu as its new Board Chairman, effective January 1, 2026. The appointment was confirmed in a press release issued on Monday, January 5, 2026, marking a leadership transition at one of Ghana’s growing downstream petroleum companies.
Mr. Adu succeeds Tutu Agyare, who steps down after nine years of service as Board Chairman. The company said the transition reflects continuity in leadership while positioning ZEN Petroleum for its next phase of growth in an increasingly competitive energy market.
Commenting on the appointment, Managing Director of ZEN Petroleum, William Tewiah, expressed confidence in Mr. Adu’s ability to provide strategic direction and strong governance oversight. He described the new chairman as a leader whose experience aligns closely with the company’s values and long-term ambitions.
“Frank’s extensive experience, proven leadership, and governance expertise ensure continuity while positioning the company for its next phase of growth.”
William Tewiah, Managing Director of ZEN Petroleum
According to the company, Mr. Adu’s appointment reflects a deliberate effort to strengthen board leadership as ZEN Petroleum expands its footprint across fuel retail, mining support services and fuel infrastructure development.
A Distinguished Career in Corporate Leadership
Mr. Adu brings decades of executive and board-level leadership experience to ZEN Petroleum, particularly from the financial services sector. He is widely regarded for his strategic insight, disciplined approach to corporate governance and people-centred leadership style.
He is best known for his tenure as Managing Director of CAL Bank PLC, where he served for 20 years. During that period, he oversaw a major transformation of the institution, guiding it through sustained growth, balance sheet strengthening and enhanced institutional resilience.
Industry observers credit his leadership at CAL Bank with embedding strong governance systems and a culture of accountability that helped the bank navigate periods of economic uncertainty.
Beyond his banking career, Mr. Adu has accumulated extensive board experience across a range of corporate and not-for-profit organisations. He currently serves as Chairman of the National Investment Bank, where he plays a key role in shaping strategic direction and governance reforms.
His past and present board roles include Legacy Bonds Limited, Quality Insurance Company Limited, University of Ghana Enterprises Limited, the FOCOS Foundation and the Ghana Stock Exchange. Across these institutions, his experience spans strategy formulation, risk management, leadership development and corporate oversight.
ZEN Petroleum said this breadth of exposure across sectors will be valuable as the company navigates regulatory, operational and market challenges in the energy industry.
Paying Tribute to Outgoing Chairman
ZEN Petroleum paid tribute to outgoing Board Chairman Tutu Agyare, under whose leadership the company recorded significant growth and strengthened its governance framework. The Board and Management acknowledged his role in deepening the company’s commitment to safety, people development and community impact.
Mr. Agyare’s nine-year tenure, the company said, helped lay a strong foundation for ZEN Petroleum’s current operations and future ambitions.
As Board Chairman, Mr. Adu will work closely with the Board and Management to advance ZEN Petroleum’s strategic objectives. His mandate includes strengthening governance practices, supporting operational excellence and reinforcing the company’s safety leadership culture.
The company said he will also play a key role in guiding sustainable value creation across ZEN Petroleum’s retail network, mining services and fuel infrastructure businesses.
With energy markets evolving rapidly, ZEN Petroleum believes Mr. Adu’s leadership will provide steady oversight and strategic clarity as the company positions itself for long-term growth and resilience in Ghana’s downstream petroleum sector.
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