WorldStage Newsonline– Oando PLC has announced the appointment of Mr. Ademola Akinrele, SAN, as Chairman of the Board, effective immediately following the conclusion of the AGM on December 17, 2024 following the decision of His Royal Majesty, Oba Adedotun Gbadebo, CFR, the Alake of Egbaland, to step down as Chairman and retire as a Board member of the company.
According to a notice at the Nigerian Exchange signed by Ayotola Jagun Company Secretary, 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 notice said.
“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.”
On the new Chairman, Mr. Ademola Akinrele, the notice said he “brings extensive experience and expertise to this role, having previously served as a Non-Executive Director on the Board and as Chairman of the Governance & Nominations Committee. With decades of distinguished service in the legal profession, he is widely recognized as a leading authority in commercial law, litigation, aviation, and maritime matters.
“Mr. Akinrele 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.
“His exceptional leadership abilities and capacity to foster consensus among stakeholders position him well to lead the Board effectively. The Board is confident that, under his chairmanship, Oando Plc will build on its legacy of excellence and explore new avenues for growth.”
The Company also announced the appointment of Mr. Cosmas Iwueze as an Independent Non-Executive Director, effective December 16, 2024.
“Cosmas Iwueze is a seasoned petroleum engineer and business leader with overthree decades of experience in the oil and gas industry,” the notice said.
“Joining Chevron Nigeria Limited (CNL) in 1990, Cosmas rose through positions of increasing responsibility across Reservoir and Asset Management, Commercial Development, Operations, Project Management, and Business Strategy. He also gained international experience working with Chevron in California and Angola.
“Cosmas previously held leadership roles as Business Services Director for Chevron’s Nigeria/Mid-Africa unit, General Manager of Operations, and General Manager of Asset Development and Exploration. Notable achievements include securing third-party financing for JV projects and contributing to national petroleum policy development during a secondment to the Nigerian government.
“Prior to retiring in November 2024, Cosmas served as Director of the NNPC/Chevron Joint Venture (JV), overseeing the JV asset development, major projects as well as oil and gas production with profit and loss accountability. In this role, he led strategic initiatives, managed multiple general managers, and acted as Managing Director when required.
“The Board and Management of Oando Plc extend their heartfelt appreciation to the outgoing Chairman for his years of dedicated service and welcome Mr. Ademola Akinrele, SAN, and Mr. Cosmas Iwueze into their new roles. These changes mark the beginning of an exciting new chapter for Oando, and the Board remains committed to driving sustainable growth and creating long-term value for all stakeholders.”
