Seplat Energy Chairman Mr. Brown has delegated authority to Mr. Samson Ezugworie, Chief Operating Officer, as the acting CEO for the period of Mr. Roger Brown’s court trial.
This information was disclosed in a corporate disclosure report published by Seplat Energy on the NGX website.
In its report, Seplat Energy refutes the allegations and notes that since Mr. Brown became CEO in 2020, Nigerian nationals have been appointed to the company’s most important positions, including the chairman, senior independent non-executive director, chief financial officer, and chief operating officer.
The Board believes these allegations are a spurious and vindictive reaction to the Board’s enforcement of corporate governance standards and a determination to continue to uphold their fiduciary duties and loyalty to the company. The Board of Seplat Energy has unanimously passed a vote of confidence in Mr. Brown as the CEO.
However, the order allows the chairman, Mr. Basil Omiyi, and all the INEDs of Seplat Energy to continue running the affairs of the company on the basis that it is in accordance with Nigerian law. Mr. Brown has delegated authority to Mr. Samson Ezugworie, Chief Operating Officer, to act as CEO during the period that he is required to step back from his executive duties.
Seplat promises to follow the due process of law in responding to the allegations before the courts. At the same time, the company will continue to maintain its operational excellence and act in line with the best corporate governance standards.