Oando Names Ademola Akinrele Board Chair as Oba Gbadebo Resigns
Oando Plc has announced the appointment of Ademola Akinrele, SAN, as its board chair following the resignation of His Royal Majesty, Oba Adedotun Gbadebo, CFR, the Alake of Egbaland.
In a regulatory filing, Oando told the Nigerian Exchange that Oba Gbadebo notified the board of his decision to step down as chairman and retire as a board member of the company.
His resignation took effect immediately following the conclusion of the Annual General Meeting (AGM) held on December 17, 2024. The oil company told the Exchange that Oba Gbadebo served with unparalleled distinction 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. Oando said 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.
In light of Oba Gbadebo’s resignation, the Board has appointed Mr. Ademola Akinrele, SAN, as Chairman of the Board, effective immediately following the conclusion of the AGM on December 17, 2024. 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. 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.
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.
The group also announced the appointment of Mr. Cosmas Iwueze as an independent non-executive director, effective December 16, 2024. Last year, Oando Energy market value increased significantly due to investors interest#Oando Names Ademola Akinrele Board Chair as Oba Gbadebo Resigns 2025 Budget: N13trn Deficit to be Financed Through Borrowing – Edun
