Though Eleanor Adaralegbe was earlier appointed Executive Director of Seplat Energy by the Board of Directors on May 1, 2024, by May 21, 2024, she will also assume the role of Chief Financial Officer.
Emeka Onwuka will be retiring from his position as Executive Director of Seplat Energy on May 1, 2024, as announced by the board. In its notification to the Nigerian Exchange Limited, the company included this.
Onwuka will also be retiring as the Chief Financial Officer (CFO) of Seplat Energy on May 21, 2024, as previously reported in the half-year 2023 financial results, and the board took note of this.
“To succeed Mr. Emeka Onwuka, the Board is pleased to announce the appointment of Mrs Eleanor Adaralegbe as an Executive Director on the Board effective May 1, 2024, and as the Chief Financial Officer effective May 21, 2024. This strategic decision aligns strongly with the Board’s Succession Forward Plan,” the board said.
Eleanor Adaralegbe has been a successful financial professional for over 30 years, with a focus on the oil and gas industry, according to a statement signed by Mrs Edith Onwuchekwa, director, legal advisor, and company secretary.
She has an Advanced Management Programme certificate from Harvard Business School, a Master of Science degree in Global Finance from BAYES Business School, City University of London, and a Bachelor of Science degree in Mathematics from the University of Nigeria Nsukka.
Eleanor holds the title of Fellow of the Institute of Chartered Accountants of Nigeria in addition to being a chartered accountant. Eleanor began her career at Ernst & Young International and has since held several important positions, such as Seplat Energy PLC’s Vice President of Finance and Chief Financial Officer Designate.
Throughout her career, she has been a driving force in financial strategy, control, and innovation at industry giants including ConocoPhillips, Addax Petroleum, and Devon Energy.
Among Eleanor’s professional accomplishments are her roles as head of finance and commercial operations at Devon’s Nigerian subsidiary, her skill in negotiating a huge gas plant repurchase, and her work as principal investigator for a London Stock Exchange acquisition valued at around $500 million.
In addition to being an industry trailblazer in process optimisation, she has been instrumental in capital raising and joint venture finance.
Eleanor has been a leader in the corporate sector in promoting diversity and inclusion for more than ten years. Seplat was one of the first Nigerian companies to use the new International Financial Reporting Standards (IFRS) S1 and S2 for sustainability reporting, thanks to her leadership.
Eleanor ensures robust growth and compliance with her strategic and forward-thinking approach to financial management and corporate governance, drawing on her excellent track record in complicated negotiations and stakeholder management.
Additionally, she is a member of Elcrest Exploration Nigeria Limited‘s board of directors. Seplat Energy Chairman Mr Udoma Udo Udoma commented on the board changes by saying:
“On behalf of the Board, Management, and Staff, I would like to express my heartfelt gratitude to Mr Onwuka for his immense contributions, wealth of experience, and a myriad of knowledge he brought to the Board since joining in August 2020.”
“It is indeed our desire and wishes that he attains greater success and more wins in his future endeavours. It is also my pleasure to welcome Mrs Adaralegbe as an Executive Director on the Board and as the Chief Financial Officer of Seplat Energy.”
“The Board is confident that her wealth of experience and expertise will be vital in steering Seplat Energy towards future success.”
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