The Board of Directors of Oando Plc has announced the appointment of Mr. Ademola Akinrele as the new Chairman of the Board, effective immediately following the conclusion of the Annual General Meeting on December 17, 2024.
This was contained in the company’s notice to the Nigerian Exchange Limited seen by NewsNGR.
The appointment follows the resignation of Oba Adedotun Gbadebo, the Alake of Egbaland, who formally notified the Board of his decision to step down as Chairman and retire as a Board member of Oando Plc.
According to the statement signed by the Company Secretary, Ayotola Jagun Gbadebo’s resignation took effect immediately following the conclusion of the Annual General Meeting (AGM) held on December 17, 2024.
Gbadebo served 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.
His steady hand and commitment were pivotal in steering the company through challenges while ensuring growth and resilience.
The Board and Management of Oando Plc expressed 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.
In light of Oba Gbadebo’s resignation, the Board has appointed a new Chairman to lead Oando Plc into its next chapter.
The new Chairman brings a wealth of experience and a commitment to upholding the company’s values and driving its strategic vision forward.
The Board and Management are confident that under new 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. The company remains dedicated to its mission and looks forward to achieving new milestones in the years to come.
According to the statement from the company Akinrele, the new chairman 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.