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Seplat Energy Chairman ABC Orjiako Steps Down After 12 Years

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By Dipo Olowookere

The Chairman of Seplat Energy Plc, Mr A.B.C Orjiako, will be stepping down from the position in May 2020, a statement from the company has disclosed.

The businessman has been in the eye of the storm lately but it was not stated in the notice if his decision to step down was connected to reports in the media.

It was revealed that Mr Orjiako is exiting the board of the company at the next annual general meeting (AGM) of the organisation slated for next year when he will be succeeded by an independent chairperson in line with Seplat Energy’s succession plan.

He assumed the post of the Chairman of Seplat Energy in 2009 and led the transformation of the firm into a globally respected entity. A few of his notable achievements include instilling best practice corporate governance and significant growth through several successful acquisitions.

Mr Orjiako, who co-founded Seplat, was also the driving force behind the company becoming the first and only Nigerian corporate to dual list on the Nigerian Exchange (NGX) Limited and the London Stock Exchange (LSE) in 2014.

“The past 12 years of Seplat Energy’s existence have been phenomenal for me. As 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,” the disclosure quoted him as saying.

The statement also quoted the Senior Independent Director of Seplat Energy, Mr Basil Omiyi, as saying that, “On behalf of all members of the board and management, 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 exciting times and his dedication has been constant throughout. The board looks 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 2022.”

Also, the board expressed its gratitude to him for his strategic vision, drive and limitless energy to create and Chair the board of Nigeria’s leading indigenous independent energy company.

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