Oando PLC has announced the appointment of Mr. Ademola Akinrele, a Senior Advocate of Nigeria, as the Chairman of the Board, effective immediately following the conclusion of its Annual General Meeting on December 17, 2024.
The appointment followed the resignation of the Alake of Egbaland, Oba Adedotun Gbadebo.
According to a statement, the monarch had formally notified the board of its decision to step down as chairman and retire as a board member of Oando Plc.
His resignation took effect immediately following the conclusion of the AGM in December.
“Oba Gbadebo served with unparalleled distinction for over 18 years on the Board, including 12 years as Chairman. Throughout his tenure, he provided steadfast leadership, wise counsel, and a fatherly presence, guiding the company through significant milestones, including several landmark transactions,” the statement partly read.
It added, “His steady hand and unwavering commitment were pivotal in steering the company through challenges while ensuring growth and resilience. The Board and Management of Oando Plc express their deep appreciation to Oba Gbadebo for his remarkable contributions and leadership over the years. His legacy will forever be an integral part of Oando’s story.
In light of the monarch’s resignation, the board said it appointed Akinrele to lead Oando into its next chapter.
“The new chairman brings a wealth of experience and a commitment to upholding the company’s values and driving its strategic vision forward. The Board and Management are confident that under the new leadership, Oando Plc will continue to build on the solid foundation laid by Oba Gbadebo, striving for excellence and sustained growth in the energy sector.”
Akinrele previously served as a non-executive director on the board and as chairman of the Governance & Nominations Committee.
He holds an LL.B. (Hons.) from University College, London, and an LL.M. from the University of Cambridge. He has also served on the boards of Agip Plc, Danos & Curole Marine Contractors, and other notable institutions.
Meanwhile, the company also announced the appointment of Mr. Cosmas Iwueze as an independent non-executive director.
Cosmas Iwueze is a petroleum engineer and business leader with over three decades of experience in the oil and gas industry.
