WorldStage Newsonline– Oando Plc has announced the resignation its Group Chief Financial Officer, Mr. Olufemi Adeyemo from the company and board with effect from February 18, 2022.
A notice at the Nigerian Exchange said Mr. Adeola Ogunsemi has been appointed as a replacement with immediate effect.
The notice said Femi Adeyemo joined the Company in October 2005 as the Chief Financial Officer and was appointed as an Executive Director on the Board on July 30, 2009. With his extensive experience in strategic consulting and finance, Mr. Adeyemo played a major role in the growth and success of the Oando Group. He was pivotal in the execution of several notable accomplishments, including but not limited to; the 2014 landmark acquisition of ConocoPhillips Nigerian assets, the 2015 Rights Issue, and various restructuring programs within the Group.
“The Board and Management of the Company commend Mr. Adeyemo for his valuable contributions and meritorious stewardship and thank him for his dedication and accomplishments over the last 16 years with the Company,” the statement said.
The new group CFO has been the Chief Financial Officer of Oando’s upstream division, Oando Energy Resources, since January 01, 2012. Prior to that, he was the Financial Controller of Oando Exploration & Production Limited having joined the Oando Group on March 01, 2009. His experience spans over 25 years in Accounting and Finance, out of which more than 20 years has been spent in the Oil and Gas industry.
He was with BP America for five years, rising to become Assistant Controller, and has extensive experience in fund raising, mergers, acquisitions and divestment, joint venture management, financial reporting, process improvement, and internal control evaluation and design, as well as financial management.
Before joining BP America, he worked for Northern Illinois Gas in Chicago, USA, for four years, where he rose to become the Head of Disbursement. He also worked for the Chicagoland Chamber of Commerce and Midas International in Illinois, USA in accounting and treasury roles. He obtained a Master of Business Administration (MBA) in Finance and Strategic Management from the University of Chicago Booth School of Business in 2003 and a Bachelor of Science in Accounting and Finance from DePaul University in Chicago in 2000. He is a member of the American Institute of Certified Public Accountants and the Institute of Chartered Accountants in Nigeria.
