Akinfemiwa Leaves Forte Oil as Adeosun Becomes CEO

June 21, 2019

By Dipo Olowookere

Leading energy company, Forte Oil Plc, has announced changes in its management team following the exit of its chairman, Mr Femi Otedola.

The business mogul had announced on Wednesday that the sale of his 75 percent holdings in Forte Oil to another investor had scaled through.

On Thursday, the company, in a disclosure to the Nigerian Stock Exchange (NSE), said it now has a new Chief Executive Officer and a new Chief Financial Officer.

It was disclosed that Mr Akin Akinfemiwa, who until the announcement was the CEO of the firm, has resigned just like Mr Julius Omodayo-Owotuga, the CFO.

Forte Oil said in the notice yesterday that its new CEO is Mr Olumide Adeosun, while Mr Moshood Olajide is the new CFO.

“Forte Oil Plc hereby notifies the Nigerian Stock Exchange (NSE), its shareholders and other stakeholders of the company of the following:

“The resignation of Mr Akin Akinfemiwa and Mr Julius Omodayo-Owotuga as Chief Executive Officer and Chief Financial Officer of the company respectively.

“The appointment of Mr Olumide Adeosun and Mr Moshood Olajide as the Chief Executive Officer and Chief Financial Officer of the company respectively.

“The appointments are with immediate effect,” the statement said.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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