REG - Seplat Energy PLC - Corporate Announcement on Board Changes

Seplat EnergyAnnouncement

29/04/2024 15:30

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RNS Number : 4604M  Seplat Energy PLC  29 April 2024

 

 

 

 

 

 

 

Seplat Energy PLC ("Seplat Energy" or the "Company")

Corporate Announcement on Board Changes

Lagos and London - April 29, 2024: The Board of Directors of Seplat Energy
today announces the retirement of Mr. Emeka Onwuka as an Executive Director on
the Board of Seplat Energy effective May 1, 2024, and as previously announced
in the Half Year 2023 Financial Results, Mr. Emeka Onwuka will also retire as
the Chief Financial Officer ("CFO") of Seplat Energy effective  May 21, 2024.

To succeed Mr. Emeka Onwuka, the Board is pleased to announce the appointment
of Mrs Eleanor Adaralegbe as an Executive Director on the Board effective May
1, 2024, and as the Chief Financial Officer effective May 21, 2024. This
strategic decision aligns strongly with the Board's Succession Forward Plan.

Eleanor Adaralegbe is an accomplished finance executive with over 30 years of
expertise, particularly in the oil and gas industry. A Mathematics graduate
from the University of Nigeria Nsukka, she holds an MSc in Global Finance from
BAYES Business School, City University of London, and completed the Advanced
Management Program at Harvard Business School. Eleanor is also a chartered
accountant and a Fellow of the Institute of Chartered Accountants of Nigeria.

Starting her career at Ernst & Young International, Eleanor has held
significant roles including Vice President of Finance and CFO Designate at
Seplat Energy PLC. Her tenure at companies such as ConocoPhillips, Addax
Petroleum, and Devon Energy has been marked by her leadership in financial
strategy, control, and innovation.

Eleanor's career achievements include leading finance and commercial
operations at Devon's Nigerian subsidiary, successfully negotiating a major
gas plant buyback, and conducting the financial due diligence for a roughly
$500 million acquisition on the London Stock Exchange. She has also played a
key role in capital raising and joint venture financing, in addition to
pioneering improvements in business processes.

An advocate for diversity and inclusion, Eleanor has championed these values
in the corporate world for over a decade. Her leadership efforts helped Seplat
become one of Nigeria's early adopters of the new IFRS S1 & S2
sustainability reporting standards.

With a proven track record in complex negotiations and stakeholder management,
Eleanor brings a strategic and forward-thinking approach to financial
management and corporate governance, ensuring robust growth and compliance.
She also serves on the board of Elcrest Exploration Nigeria Limited.

Commenting on the Board changes, Mr. Udoma Udo Udoma, Chairman of Seplat
Energy said: "On behalf of the Board, Management and Staff, I would like to
express my heartfelt gratitude to Mr. Onwuka for his immense contributions,
wealth of experience and myriad of knowledge he brought to the Board since
joining in August 2020.  It is indeed our desire and wish that he attains
greater success and more wins in his future endeavours. It is also my pleasure
to welcome Mrs Adaralegbe as an Executive Director on the Board and as the
Chief Financial Officer of Seplat Energy. The Board is confident that her
wealth of experience and expertise will be vital in steering Seplat Energy
towards future success."

-ENDS-

For: Seplat Energy PLC

Mrs. Edith Onwuchekwa

Director, Legal/Company Secretary

FOR: SEPLAT ENERGY PLC.

 

Enquiries:

 SEPLAT ENERGY Plc
 Eleanor Adaralegbe, CFO designate

 Chioma Afe, Director, External Affairs & Social Performance      +234 (0) 12 770 400

 FTI Consulting
 Ben Brewerton/Christopher Laing                                  +44 (0) 203 727 1000
                                                                  seplatenergy@fticonsulting.com (mailto:seplatenergy@fticonsulting.com)

About Seplat Energy

Seplat Energy is Nigeria's leading indigenous energy company. Listed on the
Premium Board of the Nigerian Exchange Limited (NGX:SEPLAT) and the Main
Market of the London Stock Exchange (LSE:SEPL), we are pursuing a
Nigeria-focused growth strategy in oil and gas, as well as developing a Power
& New Energy business to lead Nigeria's energy transition. For further
information, please refer to the company website, http://seplatenergy.com/
(http://seplatenergy.com/)

 

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