Oando PLC has announced the appointment of Mr. Ademola Akinrele, a Senior Advocate of Nigeria, as the new Chairman of its Board. The decision, effective immediately, follows the conclusion of the company’s Annual General Meeting (AGM) held on December 17, 2024.
Resignation of Oba Adedotun Gbadebo
Mr. Akinrele’s appointment comes after the resignation of the Alake of Egbaland, Oba Adedotun Gbadebo, who stepped down as chairman and retired from the board. Oba Gbadebo served Oando PLC with distinction for over 18 years, including 12 years as chairman.
In a statement, the company expressed its gratitude for Oba Gbadebo’s contributions. “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 read. His tenure was marked by resilience and growth, even during challenging times for the company.
Akinrele’s Appointment as Chairman
Ademola Akinrele, who has served on the board as a non-executive director and chairman of the Governance & Nominations Committee, now takes over as chairman. Akinrele brings decades of legal and corporate governance experience to the role.
With a strong educational background, including an LL.B. (Hons.) from University College, London, and an LL.M. from the University of Cambridge, Akinrele has also served on the boards of Agip Plc and Danos & Curole Marine Contractors, among others.
The company expressed confidence in his leadership, stating, “The new chairman brings a wealth of experience and a commitment to upholding the company’s values and driving its strategic vision forward. Under his 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.”
Additional Board Appointment
Oando PLC also announced the appointment of Mr. Cosmas Iwueze as an independent non-executive director. A petroleum engineer and seasoned business leader, Iwueze brings over three decades of experience in the oil and gas industry to the company.
Moving Forward
With these new appointments, Oando PLC aims to strengthen its leadership and continue its trajectory of growth and resilience in the energy sector. The board and management have reaffirmed their commitment to excellence and strategic growth under the new leadership.
