Seplat Energy has appointed Eleanor Adaralegbe to succeed Emeka Onwuka as its chief financial officer, effective May 21, according to the company’s regulatory filing with the Nigerian Exchange.
According to Seplat Energy, Onwuka is set to retire as
Executive Director on the Board effective May 1, 2024. Onwuka will also retire
as the Chief Financial Officer of the company on the same day.
Adaralegbe is an accomplished finance executive with over 30
years of expertise, particularly in the oil and gas industry. A Mathematics
graduate from the University of Nigeria Nsukka, she holds an MSc in Global
Finance from BAYES Business School, City University of London, and completed
the Advanced Management Program at Harvard Business School.
She is also a chartered accountant and a Fellow of the
Institute of Chartered Accountants of Nigeria. Starting her career at Ernst
& Young International, Eleanor has held significant roles including Vice
President of Finance and CFO Designate at Seplat Energy PLC.
Her tenure at companies such as ConocoPhillips, Addax
Petroleum, and Devon Energy has been marked by her leadership in financial
strategy, control, and innovation.
Eleanor’s career achievements include leading finance and
commercial operations at Devon’s Nigerian subsidiary, successfully negotiating
a major gas plant buyback, and conducting the financial due diligence for a
roughly $500 million acquisition on the London Stock Exchange.
She has also played a key role in capital raising and joint
venture financing, in addition to pioneering improvements in business
processes. An advocate for diversity and inclusion, Eleanor has championed
these values in the corporate world for over a decade.
Her leadership efforts helped Seplat become one of Nigeria’s
early adopters of the new IFRS S1 & S2 sustainability reporting standards.
With a proven track record in complex negotiations and
stakeholder management, Eleanor brings a strategic and forward-thinking
approach to financial management and corporate governance, ensuring robust
growth and compliance. She also serves on the board of Elcrest Exploration
Nigeria Limited.
Commenting on the Board changes, Mr. Udoma Udo Udoma,
Chairman of Seplat Energy said: “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 myriad of knowledge he brought to the
Board since joining in August 2020.
“It is indeed our desire and wish 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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