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Brown set to replace Avuru as Seplat’s CEO 

Seplat Petroleum Development Company Plc has announced the retirement of its pioneer Managing Director and later CEO, Mr Austin Avuru.



Brown set to replace Avuru as Seplat's CEO , Seplat to acquire more oil and gas assets after acquisition of Eland company 

Seplat Petroleum Development Company Plc has announced the retirement of its pioneer Managing Director and later CEO, Mr Austin Avuru. His retirement will be effective from July 2020, after overseeing the company’s operations for ten years.

The oil and gas company, which is dual-listed on the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), made the announcement in a notice issued to the NSE. The notice was signed by Edith Onwuchekwa, Seplat Petroleum’s Company Secretary.

Avuru Achievements: While Avuru steered the affairs of the company, he recorded tremendous progress during his tenure. Some of those achievements include:

  • Growing the company’s oil production from a gross production of 22,700 barrels of oil equivalent per day (BOE/D) as at December 2010 to peak of 111,368 boepd gross production as at December 2018. This was sustained through major drilling campaigns and major new oil and gas plants development.
  • The acquisition of 40% of OML 53, after the Company’s IPO of 2014.
  • The creation of an opportunity in partnership with NNPC, capable of boosting a mid-stream subsidiary, ANOH Gas Processing Company Ltd into a projected outlook of  300MMscf/d of Gas, 22,500bdp of condensate and 1,200boepd of LPG processing Company.
Brown set to replace Avuru as Seplat's CEO 

Roger Brown

Due to the listed achievements listed above, the board of SEPLAT expressed its immense appreciation to Avuru with the hope that more giant strides would be recorded as he looks to retire by the middle of next year.

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[READ MORE: Ecobank Transnational Incorporated appoints Laurence Do Rego as Group Chief Regulatory & Compliance Officer]

A new successor: The Board unanimously chose Roger Brown to succeed Avuru and lead restructuring efforts between now and July 2020, the date of Avuru’s exit from the board.

Seplat is eyeing expansion and as such, it is reviewing its current organizational and systems structure.

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Looking forward, Seplat plans to position itself for a next phase growth ambition which would see the expansion of its footprint in terms of energy business activities, a plan to pursue offshore assets as well as opportunity-driven entry into different geographies.

“The Company believes that such a corporate transition would require a different kind of organizational structure, people skills set and mentality to compete well in the expanded space. In view of this, Seplat will be reviewing its current organizational and systems structure,” the statement read.

Who is Roger Brown? Mr. Brown joined SEPLAT in 2013 as the CFO and played a key role in the successful dual listing of the company in 2014. Similarly, he played significant roles in various asset acquisitions by the company.

Mr. Brown brings to the CEO role a deep knowledge of the company in his 6 years as the CFO and a member of the board. He has strong financial, commercial and M&A experience as well as proven leadership skills which will be an asset as the company embarks on the next phase of its growth plan.

[READ ALSO: Halima Dangote appointed to head Commercial Operations of Dangote Industries Limited]

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Prior to joining SEPLAT, Mr. Brown was an advisor to the company while he was the Managing Director and head of EMEA Oil and Gas at Standard Bank Group. During his time at the bank, he was instrumental in providing advice and deploying capital across the African continent in the Oil & Gas, Power & Infrastructure and the renewable energy sectors.

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Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

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CUTIX Plc announces appointment of non-executive directors

CUTIX Plc has notified stakeholders and the general public of the retirement of Board members and the appointment of new non-executive directors.



Cutix Plc, dividend

CUTIX Plc has notified customers, the public, and other relevant stakeholders of changes in its Board room.

The announcement is sequel to the decision reached at the 37th Annual General Meeting held by the company on the 27th of November, 2020 which ratified the retirement of Barr. (Mrs). Oge Maduka and Mr. Nnamdi Ike from the Board of the company and the appointment of Mr. Ike Okonkwo, Mrs. Ijeoma Ezeasor, and Mr. Ariyo Olushekun as non-Executive Directors, effective November 27, 2020.

This is according to a recent disclosure by the firm, sent to the Nigerian Stock Exchange, and seen by Nairametrics.

In addition, the firm also announced the appointment of Mrs. Ngozi Monica Okonkwo & Co as the new external auditor of the firm, replacing ANOC Professional service who resigned during the recently concluded AGM, after serving for more than nine years.

What you should know

According to the disclosure, the breakdown of the profile of the newly appointed Directors are;

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  • Mr. Ike Okonkwo: Mr. Ike Okonkwo is a project and property, management expert. Prior to joining CUTIX Plc, he had a brief stint with firms like Adtech Limited, Keywest Property Limited, Ponsel Nigeria Limited, among others. In terms of education, he is a graduate of IMT Enugu and Federal Polytechnic Oko, where he obtained HND in marketing and accountancy respectively. He is an associate member of both the Nigerian Marketing Association and the Nigerian Institute of Management.
  • Mrs. Ijeoma Ezeasor is a Policy Analyst with technical competence in industrial and economic policy. She is currently pursuing a doctorate degree (Ph.D) at the University of Nigeria, having bagged a Bachelors’s degree in Accountancy from the same institutions and a double Masters’s of Science degree in 2008 and 2011. She is a member of various organizations and thinks thank
  • Mr. Ariyo Olushekun: An authorized dealing clerk of the Nigerian Stock Exchange and the NASD Plc and registered with the Securities and Exchange Commission. He is an alumnus of YABATECH and the University of Lagos, where he obtained an HND in Accountancy and MBA in Marketing respectively. He has participated in various executive and professional development programmes at Harvard Business School, INSEAD.

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May & Baker announces the appointment Patrick Ajah as Managing Director

May and Baker Nigeria Plc has announced the appointment of Mr. Patrick Ajah, as the Managing Director.



Senator Danjuma, May and Baker Plc

The Board of Directors of May and Baker Nigeria Plc has announced the appointment of Mr. Patrick Ajah, as the Managing Director of the company, with effect from 1st January 2021.

This disclosure was made in a notification issued and signed by the Company’s Secretary, Mrs. Adetoun Abiru.

According to the notification, Mr. Ajah would be replacing Mr. Nnamdi Nathan Okafor as the Executive Director and Managing Director of the Company, with effect from 1st December 2020.

The board disclosed that this is according to the resolution passed at the Board Meeting of May & Baker Nigeria Plc, which held on Thursday, 26th November 2020 at the Muson Centre, Onikan, Lagos, after it had confirmed the retirement of Mr. Nnamdi Nathan Okafor as Executive Director and Managing Director of the Company.

(READ MORE: NIPC grants tax holiday to Honeywell, Savannah Sugar, 4 others with N175.28 billion investments)

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The statement said that Mr Ajah “is a passionate and visionary leader with over two decades of progressive experience and responsibility in a variety of business environments; from Pharmaceuticals to FMCG, Telecoms and Manufacturing.”

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Unilever announces the appointment of Jaime Aguilera as Non-Executive Director

Unilever Nigeria Plc has announced the appointment of Mr. Jaime Aguilera as a Non-Executive Director.



The Board of Directors of Unilever Nigeria Plc has announced the appointment of Mr. Jaime Aguilera as a Non-Executive Director.

This information was disclosed by Unilever in a notification issued and signed by the Company’s Secretary Abidemi Ademola.

According to the notification, the appointment of Mr. Aguilera as a Non-Executive will take effect from 1 January 2021.

However, the Board of Unilever disclosed that Mr Aguilera is a well-rounded business professional, with broad operational expertise while working for top FMCG companies.

What you should know

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Aguilera in 2009 joined Unilever Spain as EVP & Chairman. He was appointed as Executive Vice President Unilever Eastern Europe in September 2016. He has since then moved to his current role as Unilever Executive Vice President Africa, leading the Unilever business in Africa.

Prior to joining Unilever, he has been in Coca-Cola, Nestlé, and Procter & Gamble. His experience spans Europe, the Americas and Asia.

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