Oando Plc Appoints Mr. Ademola Akinrele As Chairman Of Board of Directors

Oando Plc has appointed Mr. Ademola Akinrele as the new Chairman of its Board of Directors, effective immediately after the conclusion of the Annual General Meeting (AGM) held on December 17, 2024.

This appointment follows the resignation of His Royal Majesty, Oba Adedotun Gbadebo, who officially stepped down after serving on the Board for over 18 years, including 12 years as Chairman.

In a statement, the Board expressed deep gratitude to Oba Gbadebo for his unwavering commitment, visionary leadership, and significant contributions to Oando’s growth and resilience during his tenure. His legacy, they noted, remains deeply embedded in the company’s history.

Alongside Mr. Akinrele’s appointment, Oando Plc also announced the appointment of Mr. Cosmas Iwueze as an Independent Non-Executive Director, effective December 16, 2024.

Mr. Akinrele brings a wealth of legal expertise and corporate governance experience to his new role as Chairman. He holds an LL.B (Hons.) from University College London and an LL.M from the University of Cambridge. Over the years, he has built a distinguished legal career with specialization in commercial law, litigation, and niche areas such as aviation and maritime law.

Previously, Mr. Akinrele served as a Non-Executive Director on Oando’s board and chaired the Governance & Nominations Committee, where he played a crucial role in strengthening the company’s governance framework. Beyond Oando, he has held board roles with organizations such as Agip Plc and Danos & Curole Marine Contractors, further honing his leadership and strategic decision-making abilities.

As Chairman, Mr. Akinrele is expected to steer Oando Plc towards sustained growth, leveraging his collaborative approach to build consensus among stakeholders while identifying opportunities to drive the company’s strategic goals.

Mr. Iwueze joins Oando’s board with over three decades of experience in the oil and gas sector. A petroleum engineer by profession, he began his career at Chevron Nigeria Limited in 1990 and rose through the ranks, holding key leadership roles across operations, asset management, project development, and business strategy.

His international assignments in California and Angola further broadened his expertise, enabling him to contribute significantly to Chevron’s strategic initiatives. Notably, Mr. Iwueze played a key role in securing financing for major joint venture projects and advancing Nigeria’s petroleum policy development.

Before retiring in November 2024, he served as Director of the NNPC/Chevron Joint Venture, where he oversaw asset development, major projects, and oil and gas production. His leadership was instrumental in shaping strategic direction and ensuring operational efficiency across critical business units.

Both appointments highlight Oando Plc’s commitment to strong governance, strategic leadership, and sustainable growth. The board has expressed confidence in the capabilities of Mr. Akinrele and Mr. Iwueze to drive the company’s objectives in an evolving energy landscape.