Oando PLC has announced the appointment of Mr. Ademola Akinrele, SAN, as the new Chairman of the Board, effective immediately after the conclusion of the Annual General Meeting (AGM) on December 17, 2024.
This decision follows the resignation of His Royal Majesty, Oba Adedotun Gbadebo, CFR, who formally notified the Board of his decision to step down as Chairman and retire from the Board.
According to the disclosure, Oba Gbadebo has served with distinction for over 18 years, including 12 years as Chairman.
His resignation took effect on December 17, 2024, with Mr. Akinrele’s appointment as Chairman commencing immediately after the conclusion of the Annual General Meeting (AGM) on the same day.
Additionally, the disclosure announced the appointment of Mr. Cosmas Iwueze as an Independent Non-Executive Director, which took effect on December 16, 2024.
Reflecting on His Royal Majesty, Oba Adedotun’s impressive 12-year tenure, the Board remarked:
“The Board and Management of Oando Plc extend their heartfelt gratitude to Oba Gbadebo for his outstanding contributions and exemplary leadership throughout the years. His legacy will forever be woven into the fabric of Oando’s story.”
About Mr. Ademola Akinrele
Mr. Akinrele assumes his new role with a strong foundation in law and corporate governance. He holds an LL.B (Hons.) from University College London and an LL.M from the University of Cambridge, qualifications that have underpinned his extensive career in the legal profession.
With decades of experience, Mr. Akinrele has developed expertise in commercial law, litigation, and specialized areas such as aviation and maritime law.
He has previously served as a Non-Executive Director on the Board and as Chairman of the Governance & Nominations Committee, roles where he contributed to strengthening governance practices.
In addition to his legal background, Mr. Akinrele has held board positions with organizations including Agip Plc and Danos & Curole Marine Contractors, gaining valuable insights into corporate leadership and decision-making. His approach emphasizes collaboration and fostering agreement among stakeholders.
As Chairman, Mr. Akinrele is expected to guide Oando Plc in maintaining its established standards while identifying new opportunities for development. The Board has expressed confidence in his leadership and ability to support the company’s strategic direction.
About Mr. Cosmas Iwueze
Mr. Cosmas Iwueze is a petroleum engineer and business leader with over 30 years of experience in the oil and gas industry.
He joined Chevron Nigeria Limited in 1990 and held various senior roles across operations, asset management, project development, and business strategy, including international assignments in California and Angola.
He served as Business Services Director for Chevron’s Nigeria/Mid-Africa unit and General Manager for Operations and Asset Development.
Notable achievements include securing financing for joint venture projects and contributing to Nigeria’s petroleum policy development.
Before retiring in November 2024, Cosmas was Director of the NNPC/Chevron Joint Venture, overseeing asset development, major projects, and oil and gas production, with responsibility for strategy and leadership across key operations.
