Alake of Egbaland Steps Down as Oando Chairman, Ademola Akinrele Assumes Role

Following the resignation of Adedotun Gbadebo, the Alake of Egbaland, Oando Plc selected Ademola Akinrele as its board chairman.

The company’s secretary, Ayotola Jagun, said in a statement on Friday that Gbadebo had officially informed the board of his intention to retire from Oando’s board and resign as chairman.

According to Jagun, Gbadebo’s resignation became effective right away following Oando’s December 17, 2024, annual general meeting (AGM).

“Oba Gbadebo served on the Board for more than 18 years, 12 of which were as Chairman, with unmatched distinction,” Jagun stated.
“During his time there, he led the firm through important turning points, including a number of historic deals, with unwavering leadership, sage advice, and a fatherly presence.

In order to guide the business through difficulties and guarantee development and resilience, his firm hand and unflinching dedication were essential.

“Oando Plc’s Board and Management would like to sincerely thank Oba Gbadebo for his outstanding leadership and efforts over the years. His legacy will always play a significant role in Oando’s history.
According to Jagun, Akinrele’s vast experience—which includes work at Agip Plc and Danos & Curole Marine Contractors—will propel the business’s strategic strategy ahead.

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“Having previously served as Chairman of the Governance & Nominations Committee and as a Non-Executive Director on the Board, Mr. Akinrele brings a wealth of experience and expertise to this role,” she stated.

“He is widely acknowledged as a top authority in commercial law, litigation, aviation, and maritime problems, having served in the legal profession for decades with distinction.

Mr. Akinrele has an LL.M. from the University of Cambridge and an LL.B. (Hons.) from University College London.

He has also held positions on the boards of Danos & Curole Marine Contractors, Agip Plc, and other prestigious organizations.

“He is well-positioned to lead the Board due to his outstanding leadership skills and ability to promote consensus among stakeholders.

“The Board is certain that Oando Plc will continue to build on its tradition of excellence and pursue new growth opportunities under his chairmanship.”

Jagun also announced the appointment of Cosmas Iwueze as an independent non-executive director, effective December 16, 2024.

“Cosmas Iwueze is a seasoned petroleum engineer and business leader with over three decades of experience in the oil and gas industry,” she said.

“Joining Chevron Nigeria Limited (CNL) in 1990, Cosmas rose through positions of increasing responsibility across Reservoir and Asset Management, Commercial Development, Operations, Project Management, and Business Strategy.

Additionally, he acquired global experience while working in California and Angola for Chevron. Cosmas previously held leadership roles as Business Services Director for Chevron’s Nigeria/Mid-Africa unit, General Manager of Operations, and General Manager of Asset Development and Exploration.

“Notable achievements include securing third-party financing for JV projects and contributing to national petroleum policy development during a secondment to the Nigerian government.

“Prior to retiring in November 2024, Cosmas served as Director of the NNPC/Chevron Joint Venture (JV), overseeing the JV asset development, major projects, as well as oil and gas production with profit and loss accountability.”

Jagun said Cosmos led strategic initiatives at the joint venture, managed multiple general managers, and acted as managing director when required.