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News around Africa - August 6, 2020

Seplat New CEO Says He’s Ready to Take Company to Next Level

The newly appointed Chief Executive Officer (CEO) of Seplat Petroleum Development Company Plc, Roger Brown has expressed commitment to take the company to its next phase of growth despite inevitable challenges.

Brown, who joined Seplat in 2013 as the Chief Financial Officer (CFO), resumed work on August 1.

He took over from the founding CEO, Austin Avuru who retired after 10 years of service to the company.

In a short video posted on Seplat Twitter page, Brown acknowledged the achievements of his predecessor and expressed optimism in taking the company to an even greater feat.

He said, “It’s a true honour to be entrusted to lead this great company. And Austin has done an excellent job in really creating what we see today at Seplat…I think the opportunity is plentiful. The challenges are definitely there but with the great team which I have at Seplat, I know that we can surmount those challenges and really move forward and grow this business.”

Brown was said to have played a key role in the dual listing of the company in 2014 on both the London and Nigerian Stock Exchanges and in the company’s successful landmark deals, Initial Public Offering (IPO) and financial structure of debt and acquisitions.

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According to reports, he understands the workings of the local and global business environments and institutions, and as the new CEO, he is expected to work towards reinforcing the company’s leading position in the Energy sector.

Seplat is a Nigerian independent oil and gas company listed on both the London and Nigerian stock exchanges with a strategic focus in the Niger Delta region in Nigeria.

In a recent rating of the biggest Nigerian company by market capitalization, Seplat led the park in the oil and gas sector with a market capitalization of $1.1 billion.

The ranking is done annually by a business profiling and ranking magazine in Nigeria, TheSignature50, in partnership with The Nigerian Stock Exchange.

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