ZEN Petroleum Limited has announced the appointment of seasoned corporate leader Frank Adu as its new Board Chairman, effective January 1, 2026.
The appointment was disclosed in a press release issued on Monday, January 5, 2026.
Mr. Adu succeeds Tutu Agyare, who steps down after nine years of service as Board Chairman.
Mr. Adu brings decades of executive and board-level leadership experience to ZEN Petroleum, particularly within the financial services sector, where he is widely regarded for his strategic insight, disciplined approach to corporate governance, and people-centred leadership style.
He served as Managing Director of CAL Bank PLC for 20 years, overseeing a period of significant transformation, sustained growth, and institutional resilience.
He currently serves as Chairman of the National Investment Bank and has held leadership and board roles across several corporate and not-for-profit organisations, including Legacy Bonds Limited, Quality Insurance Company Limited, University of Ghana Enterprises Limited, the FOCOS Foundation, and the Ghana Stock Exchange. His experience spans corporate governance, strategy formulation, risk management, and leadership development.
Beyond corporate leadership, Mr. Adu is actively involved in education and civic initiatives. He is Chairman and Co-Founder of The Roman Ridge School and was recently appointed the first Chancellor of the African University of Communications and Business.
He also plays an active role in sports administration, serving as President of the Achimota Golf Club and having previously served as Captain and President of the Accra Polo Club.
Mr. Adu holds a Bachelor of Arts (Honours) degree in Geography and an MBA in Finance. He was awarded an Honorary Doctorate by the University of Ghana in 2013, is an Honorary Fellow of the Chartered Institute of Bankers, and is an alumnus of the Oxford Strategic Leadership Programme at the Saïd Business School, University of Oxford.
He takes over from Mr. Tutu Agyare, under whose leadership ZEN Petroleum recorded significant growth, strengthened its governance framework, and deepened its commitment to safety, people development, and community impact. The Board and Management expressed appreciation for Mr. Agyare’s steady leadership and invaluable contribution to the company.
Commenting on the appointment, Managing Director of ZEN Petroleum, William Tewiah, said Mr. Adu’s experience and leadership credentials align strongly with the company’s values and long-term vision.
“Frank’s extensive experience, proven leadership, and governance expertise ensure continuity while positioning the company for its next phase of growth,” Mr. Tewiah stated.
As Board Chairman, Mr. Adu will work closely with the Board and Management to advance ZEN Petroleum’s strategic objectives, strengthen governance practices, and support the company’s focus on operational excellence, safety leadership, and sustainable value creation across its retail, mining, and fuel infrastructure businesses.
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