The Board of Directors of Ardova Plc’s (AP) has announced the retirement of Chief Executive Officer (CEO), Olu Adeosun, from the company with effect from 31 August 2023.
A statement from the company said Adeosun will be exiting the Company to pursue new interests and opportunities.
The statement added that the retiring CEO has committed to remaining involved with the activities of the company till 31 December 2023 to ensure a seamless transition to the new executive management of the company.
According to the statement, Moshood Olajide has now been appointed as Managing Director in line with the Company’s established succession planning process.
AP noted that the new MD appointment will help advance the company’s post-delisting transformation into one of Africa’s leading integrated energy company.
Speaking on the new appointment AbdulWasiu Sowami, Group Executive Chairman, Prudent Group (owners of Ardova Plc) said, “Ardova is the crown jewel in our portfolio and is in an exciting position to create value in the energy industry, with many opportunities ahead.
“I look forward to working closely with our partners and the Ardova leadership to continue executing on the company’s long-term vision & strategy.
“On behalf of the Board of Directors and staff, I thank Olu for his contributions to the growth of the company. We wish him well in the future.
For his part the outgoing CCO said, “After over four years of building a market offering leveraging the strength and customer loyalty of the AP brand across multiple channels and partnerships, I believe this is the right point to hand over leadership.
“I thank the incredible Ardova Board, management, team, our customers, and partners – especially our formidable dealers – for their relentless support.
“I will work with the Chairman and the Board to ensure a smooth transition and I will continue to be a customer, stakeholder, and lifelong fan of Ardova, its products & services.”
Ardova Plc is a leading Nigerian integrated energy company with an extensive network of over 695 retail outlets in Nigeria and storage facilities in Apapa, Lagos, and Onne, Rivers State.
Ardova procures and distributes petrol (PMS), diesel (AGO), aviation turbine kerosene (ATK), and liquefied petroleum gas (LPG). The company also manufacture and distribute a wide range of quality lubricants from our oil blending plant in Apapa, Lagos.
Inspired by climate change impact and the energy need for a brave new world, Ardova continuously works to advance the efficient delivery of energy solutions to help address it’s customers’ greatest challenges.
By combining its rich history of successful execution, integrity, customer service excellence, and technology, Androva pushes the boundaries of innovation to transform business and society for the better.
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