Oil giant, Oando Plc has appointed Dr Ainojie Alex Irune as its new Executive Director. Irune’s appointment was disclosed in a notification to the Nigerian Stock Exchange (NSE) and the investing public at large.
The company disclosed that Irune’s appointment would take effect from Friday, August 9, 2019.
What you should know about Irune: Dr Ainojie Alex Irune is the Chief Operating Officer (COO) of Oando Energy Resources (OER), the upstream subsidiary of Oando Plc.
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A proponent of transformational leadership, Irune joined the company in 2011 and OER’s management team in 2018. As the COO, he successfully redefined OER’s business model, creating a clearer vision and alignment of focus to achieving the company’s objectives.
To date, his actions have positively impacted the business, specifically in the areas of consolidation of existing assets and operations, improved partner relations, a 21% reduction in company debt profile, a 99% reduction in Reserve Based Lending, increased daily crude oil production by 10% to 16,967 and 2P Reserves position by 2%. Irune also secured over $1.5 billion in international financing.
Prior to assuming his current role, he was the Group Chief Strategy & Corporate Services Officer at Oando Plc from 2016 to 2018. He also served as the Head of Corporate Communications of the company from 2013 to 2016, where he oversaw all internal and external brand-building efforts across the Company’s business entities. He spearheaded the global communications strategy following Oando’s successful $1.5 billion acquisition of ConocoPhillips Nigeria’s upstream assets.
Before joining Oando Plc in 2011, Irune worked in the United Kingdom as an In-Vehicle Systems Researcher and Designer with global leading car manufacturers (Honda, Nissan and Jaguar Land Rover) and the University of Nottingham.
He graduated from the University of Nottingham with a B.Sc. in Computer Science in 2002 and attained his PhD in Computer Science from the same university in 2009.
Meanwhile, the company also disclosed the resignation of Mobolaji Osunsanya, a Non-Executive Director of the company. Ogunsanya, according to Oando Plc, resigned from the Board with effect from Friday, August 9, 2019.
Until his resignation, Ogunsanya was a member of the Audit Committee, Strategy and Finance Committee and the Risk, Environmental, Health, Safety, Security and Quality Committee.