BREAKING: Alake Of Egbaland Resigns

Oba Adedotun Gbadebo, the Alake of Egbaland, has resigned as the Board Chairman of Oando PLC.

Ademola Akinrele has therefore been appointed as board chairman.

In a statement on Friday, Ayotola Jagun, the company’s secretary, said Gbadebo formally notified the board of his decision to step down as chairman and retire as a board member of Oando.

Gbadebo’s resignation, according to Jagun, took effect immediately after Oando’s annual general meeting (AGM) held on December 17, 2024.

“Oba Gbadebo served with unparalleled distinction for over 18 years on the Board, including 12 years as Chairman,” Jagun said.

“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 unwavering commitment were pivotal in steering the company through challenges while ensuring growth and resilience.

“The Board and Management of Oando Plc express 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.”

‘AKINRELE HAS EXTENSIVE EXPERIENCE TO MOVE OANDO FORWARD’

Jagun said Akinrele will drive the company’s strategic vision forward, with his extensive experience, which includes working at Agip Plc, Danos & Curole Marine Contractors.
“Mr. Akinrele 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,” she said.

“With decades of distinguished service in the legal profession, he is widely recognised as a leading authority in commercial law, litigation, aviation, and maritime matters.

“Mr. Akinrele holds an LL.B (Hons.) from University College London and an LL.M from the University of Cambridge.

“He has also served on the boards of Agip Plc, Danos & Curole Marine Contractors, and other notable institutions.

“His exceptional leadership abilities and capacity to foster consensus among stakeholders position him well to lead the Board effectively.

“The Board is confident that, under his chairmanship, Oando Plc will build on its legacy of excellence and explore new avenues for growth.”

Jagun also announced the appointment of Cosmas Iwueze as an independent non-executive director, effective December 16, 2024.

“Cosmas Iwueze is a seasoned petroleum engineer and business leader with over three decades of experience in the oil and gas industry,” she said.

“Joining Chevron Nigeria Limited (CNL) in 1990, Cosmas rose through positions of increasing responsibility across Reservoir and Asset Management, Commercial Development, Operations, Project Management, and Business Strategy.

“He also gained international experience working with Chevron in California and Angola. Cosmas previously held leadership roles as Business Services Director for Chevron’s Nigeria/Mid-Africa unit, General Manager of Operations, and General Manager of Asset Development and Exploration.

“Notable achievements include securing third-party financing for JV projects and contributing to national petroleum policy development during a secondment to the Nigerian government.

“Prior to retiring in November 2024, Cosmas served as Director of the NNPC/Chevron Joint Venture (JV), overseeing the JV asset development, major projects, as well as oil and gas production with profit and loss accountability.”

Jagun said Cosmos led strategic initiatives at the joint venture, managed multiple general managers, and acted as managing director when required.