TOR MD, Jerry Hinson resigns

The managing director of the Tema Oil Refinery (TOR), Jerry Kofi Hinson, has resigned, citing health reasons.

Jerry Hinson submitted his resignation letter to the President of the Republic and copied it to the board of directors of TOR and the Minister for Energy on Friday, August 11.

He stated in the letter: “It has been a privilege, honour and pleasure to serve as the Managing Director for Tema Oil Refinery (TOR) for the past 18 months. Working in partnership with the Board of Directors and Management, we have undertaken the daunting task of identifying a suitable entity to partner with TOR to revamp its’ operations in a sustainable and profitable way”.

“The process, though long and arduous, has resulted in the selection of a potential partner who needs to be taken through the various approval stages. Regrettably, I am unable to continue in my role as Managing Director due to unforeseen health circumstances”.

“This letter therefore serves as my notice of resignation from the Managing Directors’ position effective from an agreed handover/transition period with the Board of Directors. I am committed to ensuring a smooth transition of my duties and do undertake to perform them thoroughly until my last day at post”, the letter added.

TOR has been in the news lately for a US$22 million yet-to-be-firmed-up lease deal with Torentco Asset Management (TAM).

Senior executives at the refinery supported the move, saying it would provide a good platform for its revival.

However, the Minority in Parliament has opposed the deal, arguing the terms of the agreement do not favour the country.