Jobs/Appointments
Seplat Picks CFO Brown to Replace Avuru as CEO
By Modupe Gbadeyanka
The Chief Financial Officer (CFO) of Seplat Petroleum Development Company Plc, Mr Roger Brown, will from August 1, 2020, be the new Chief Executive Officer (CEO) of the energy firm.
A statement from the company said Mr Brown will take charge of day-to-day activities of Seplat upon the retirement of the present CEO, Mr Austin Avuru, who steps down on July 31, 2020,
For a decade, Mr Avuru piloted affairs of the company, making it a strong organisation, with the deployment of agile systems, processes and stakeholder relationships that allowed the firm to grow rapidly from a gross production of 22,700 boepd as at December 2010 to peaks of 111,368 boepd gross production as at December 2018 through major drilling campaigns and major new Oil and Gas plants development.
The acquisition of 40 percent of OML 53, post company’s IPO of 2014, created an opportunity in partnership with NNPC, to spawn a mid-stream subsidiary, ANOH Gas Processing Company Ltd currently progressing what will ultimately be a 300MMscf/d of Gas, 22,500bdp of condensate and 1,200boepd of LPG processing company.
Seplat said it could not have achieved all these without Mr Avuru’s leadership skills, personal dedication and hard work, at the head of the company.
“The board of Seplat is grateful to Mr Avuru for these accomplishments and is looking forward to his continued service at the board level,” the statement said.
The energy company said looking forward, it plans to position itself for a next phase growth ambition which would see the expansion of its footprint in terms of energy business activities, a plan to pursue offshore assets as well as opportunity driven entry into different geographies.
The company said it believes that such a corporate transition would require a different kind of organisational structure, people skills set and mentality to compete well in the expanded space, noting that in view of this, it would be reviewing its current organisational and systems structure.
It said to lead the aspiration, it had to settle for Mr Brown to succeed Mr Avuru as CEO so as to lead the restructuring during the transition period between now and final exit date of the present leader.
Mr Brown joined Seplat in 2013 as the CFO and played a key role in the successful dual listing of the company in 2014. Since he joined the firm, he has played significant roles in various asset acquisitions by the company.
Prior to joining Seplat, Mr Brown was an advisor to the company since 2010 while he was the Managing Director and head of EMEA Oil and Gas at Standard Bank Group.
During his time at the bank, he was instrumental in providing advice and deploying capital across the African continent in the oil/gas, power/infrastructure and the renewable energy sectors.
“Mr Brown brings to the CEO role, a deep knowledge of the company in his 6 years as the CFO and a member of the board. He has strong financial, commercial and M&A experience as well as proven people skills which will be an asset as the company embarks on the next phase of its growth plan,” the statement stated.
“While we thank Mr Avuru for a meritorious service, we welcome Mr Brown and wish him every success in his upcoming new role,” the company concluded.
By Adedapo Adesanya
The Governor of Oyo State, Mr Seyi Makinde, has formally announced Prince Abimbola Akeem Owoade as the new Alaafin of Oyo, more than two years since the throne was vacant following the death of the last Alaafin, Oba Lamidi Olayiwola Adeyemi III, on April 22, 2022.
A statement by the Commissioner for Information and Orientation, Mr Dotun Oyelade, said Prince Owoade, after thorough consultations and divination, was recommended by the Oyomesi and approved by the Governor of Oyo State.
According to the Commissioner, a statement to this effect had been issued by the Commissioner for Local Government and Chieftaincy Affairs, Mr Ademola Ojo, who said that the announcement put to rest all the social and legal bickerings that ensued since the demise of the previous occupier of the exalted seat in Yorubaland.
Mr Ojo called on all citizens of Oyo State to join the government in celebrating this momentous occasion and lend their support to the new Alaafin of Oyo.
The Commissioner prayed that his reign would bring peace, prosperity and unity to the historic Oyo Kingdom.
Business Post reports that insiders say there is some discontent as Prince Lukman Adelodun Gbadegesin was initially selected by the Oyo Mesi, the kingmakers, to be the next ruler.
Prince Akeem Abimbola Owoade, a member of the Owoade-Agunloye family, is 47 years old. He is a trained mechanical engineer.
He has an MSc in Mechanical Engineering from Northumbria University after he attained a BSc in Mechanical Engineering from the University of Sunderland.
Before his sojourn to the United Kingdom, he has some education in Nigeria, attaining his Higher National Diploma (HND) also in Mechanical Engineering from the Polytechnic, Ibadan and his National Diploma from Federal Polytechnic, Ilaro and his Secondary School from Baptist High School, Saki.
His coronation will happen in the coming weeks.
By Aduragbemi Omiyale
Mr Ayo Adeonipekun has been appointed as the new Registrar and chief executive of the Chartered Institute of Stockbrokers (CIS).
He is taking over the position from Mr Josiah Akerewusi, who retired after a decade of meritorious service, according to a statement.
“This is a critical role that requires strong leadership, strategic thinking, and a deep understanding of the capital market.
“Adeonipekun possesses these qualities, and we believe he will transform the institute into a world-class certification entity,” the chairman of the Council at CIS, Mr Oluropo Dada, said.
Mr Adeonipekun is expected to guide the organisation to higher heights with his over 25 years of extensive multidisciplinary experience in leadership, finance, people and performance management, as well as corporate planning and administration.
Before now, he has served in various top management positions in leading organisations, including Marina International Bank (now Access Bank), Crossword Securities Limited, Sterling Bank, First City Monument Bank Plc, Susu Microfinance Bank, and MBL Financial Services, among others.
He was once the chief executive of a funds/portfolio manager licensed by the Securities and Exchange Commission (SEC), Reliance Capital Limited.
A Fellow of the Chartered Institute of Stockbrokers, Mr Adeonipekun qualified as a Chartered Stockbroker in March 2006 while working at Crossword Securities Limited.
He also became a Chartered Accountant in May 1997 and was admitted as a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) in 2013.
Additionally, he is a Certified Microfinance Banker (CIBN-MCP), an Associate Member of the Chartered Institute of Taxation of Nigeria (CITN), a trading license holder with the Nigerian Exchange (NGX) Limited, and a Registered Capital Market Operator/Sponsored Individual with the SEC.
The CIS chief boasts a Higher National Diploma in Accountancy from Yaba College of Technology, a Bachelor of Science in Accounting and a Master’s in Finance, both from Olabisi Onabanjo University (OOU), Ago-Iwoye, Ogun State, and currently a doctoral candidate (PhD Finance) at the same institution.
By Adedapo Adesanya
The Nigerian Aviation Handling Company PLC (NAHCO Aviance) has announced the appointment of Mr Olumuyiwa Olumekun as its new chief executive, with effect from January 1, 2025, following the retirement of Mr Indranil Gupta.
Mr Gupta concluded his tenure as the company’s CEO on December 31, 2024, marking the end of an era that saw growth under his leadership.
The company’s announcement, delivered via a notice to the Nigerian Exchange (NGX) Limited, confirmed the board’s approval of Mr Olumekun’s appointment.
He brings over three decades of leadership experience, which will help steer NAHCO through its next phase of growth. His career at the company includes key roles such as Group Executive Director of Corporate Services, where he played an instrumental part in driving the company’s 2019–2023 strategic plan.
This plan resulted in a 300 per cent increase in profitability. He brings his experience in business development and commercial strategy to bear.
His previous tenure as Acting Managing Director and Executive Director of Corporate Services contributed to the development of NAHCO’s operational success and long-term strategic direction.
Mr Olumekun also led the company’s efforts in driving new business opportunities during his leadership of the Commercial and Business Development sectors in 2019.
Since retiring from his active role at NAHCO in 2022, he has continued his involvement in the company as a non-executive director on the boards of its subsidiaries, helping guide their growth.
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