Lagos, Nov. 18, 2019
Seplat Plc on Monday announced the retirement of Mr Austin Avuru, as its Chief Executive Officer, effective July 31, 2020.
The company, in a post listing requirement filing obtained from the Nigerian Stock Exchange (NSE) website, said that Avuru would be replaced by Mr Roger Brown, its Chief Finance Officer.
The statement said that Avuru was retiring after 10 years of leading the company.
“In these 10 years, Avuru led the development of a strong organisation, the deployment of agile systems, processes and stakeholder relationships that allowed the organisation to grow rapidly.
“The board of SEPLAT is grateful to Avuru for these accomplishments and is looking forward to his continued service at the board level.
“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 organisational structure, people skills set and mentality to compete well in the expanded space.
“In view of this, Seplat will be reviewing its current organisational and systems structure,” it said.
It stated that the board had decided that the CEO designate would lead the restructuring during the transition period between now and final exit date of Avuru on July 31, 2020.
The statement said that Brown joined SEPLAT in 2013 as the CFO and played a key role in the successful dual listing of the company in 2014.