Dr. A.B.C. Orjiako has informed Seplat Energy Plc of his decision to step down as Chairman and from the company’s Board of directors.
This was revealed in a statement issued by Seplat Energy, made available to the press on Wednesday in Lagos.
According to the statement, Orjiako will remain as Chairman until the next Annual General Meeting in May 2022, when an independent chairperson will take over.
The board of Seplat Energy thanked its chairman for his strategic vision, drive and limitless energy to create Nigeria’s leading indigenous independent energy company.
Following his decision, Orjiako said: “The past 12 years at Seplat Energy has been exhilarating for me. As a chairman, I am proud that the board, management and entire staff of Seplat Energy were able to achieve several enviable milestones and exceptional successes.
“Notably, the acquisition of eight oil and gas assets, expansion of the Oben and development of the ANOH gas plants and the dual listing on both the Nigerian and London Stock Exchanges – a first by a Nigerian company.
“While there were challenges along the way, we overcame these by the special grace of God, the outstanding performance and professionalism of each member of the board and management, and the sterling efforts of our staff.
“I will continue to give my utmost energy and commitment to the company until I step down from the board at the next AGM.”
A Senior Independent Director of Seplat Energy, Basil Omiyi, said: “On behalf of all members of the board, I would like to thank Dr A.B.C. Orjiako for his immense contribution as a co-founder and Chair of Seplat Energy since inception.
“He has been chairman during both exciting and challenging times, and his dedication has been constant throughout.
“The board and management look forward to working with him during the transition period and we will miss his insight, expertise and leadership when he finally steps down in May.”
The statement also noted that Orjiako’s decision to step down and be replaced by an independent chairperson was a testament to the strong corporate governance and best practices he instilled in the board.
It also noted that Orjiako is the co-founder and pioneer of Seplat Energy since 2009.
As chairman of the Seplat Energy Group, Orjiako took the company through a number of acquisitions.
It said the chairman was the driving force behind Seplat Energy becoming the first and only Nigerian corporate organisation to have dual listing on the Nigerian Stock Exchange and the Main Board of the London Stock Exchange in 2014.