Seplat Energy Plc says Basil Omiyi, its board chairman and Charles Okeahalam, its senior independent non-executive director, will retire before the next annual general meeting (AGM) in May 2024.
In a statement on Tuesday, the company said the resignation followed the likely completion timetable for the
of Mobil Producing Nigeria Unlimited assets, business restructuring activities, and the time needed to strengthen its governance.executive director , Dr. Charles Okeahalam, will both retire from the board before the May 2024The company said it would immediately embark on a recruitment process for the next chairman.As part of the process, Seplat said, the independent non-executive directors of the board who qualify to be chairman of the company, will also be evaluated.
“This is in line with the Companies and Allied Matters Act whereby, the successor chairman must already be a director of the company and will be votedSeplat said it expects the recruitment process to be completed before the end of 2023, with the chairman’s election to follow thereafter.The resignation of the duo comes days afterhat Fabian Ajogwu, an independent non-executive director, would step down from the board on October 21, 2023.
“Prof. Ajogwu resigned from the board citing recent events and deliberate external interferences which have prevented him from effectively discharging his fiduciary and statutory duties as an independent non-executive director to the highest standards of corporate governance he has written and subscribed to,” Seplat had said.at a federal high court in Abuja, against Seplat and its top executives.
In the suit, marked, FHC/AB/CR/149/2023, the defendants were accused of conspiring among themselves to allow Roger Brown accept employment as chief executive officer at Seplat Energy “without the consent of the comptroller-general of immigration”.
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