Seplat Energy’s Board of Directors has announced a significant leadership transition, appointing Eleanor Adaralegbe as Executive Director and Chief Financial Officer (CFO), effective May 1, 2024. This move follows the retirement of Mr. Emeka Onwuka as Executive Director, also effective from May 1, 2024.
In alignment with earlier disclosures made during the half-year 2023 financial results, Mr. Onwuka will step down from his role as Chief Financial Officer on May 21, 2024. To fill this critical position, the Board has chosen Eleanor Adaralegbe, citing her extensive experience and strategic vision as key factors in this decision.
Mrs. Edith Onwuchekwa, Director and Legal/Company Secretary, issued a statement introducing Eleanor Adaralegbe as a seasoned finance professional with over three decades of experience, particularly within the oil and gas sector. Adaralegbe holds a Mathematics degree from the University of Nigeria, Nsukka, and furthered her education with an MSc in Global Finance from BAYES Business School, City University of London. She also completed the Advanced Management Program at Harvard Business School.
Adaralegbe’s distinguished career includes positions at prominent organizations such as Ernst & Young International, ConocoPhillips, Addax Petroleum, and Devon Energy. Notably, she served as Vice President of Finance and CFO Designate at Seplat Energy PLC, showcasing her familiarity with the company’s operations and strategic objectives.
Throughout her career, Adaralegbe has been a driving force behind financial strategy, control, and innovation. She played a pivotal role in significant transactions, including a notable gas plant buyback and financial due diligence for a substantial acquisition valued at approximately $500 million on the London Stock Exchange during her tenure at Devon Energy’s Nigerian subsidiary.
Beyond her financial acumen, Adaralegbe has been a staunch advocate for diversity and inclusion within the corporate sphere. Her leadership initiatives have positioned Seplat Energy as a trailblazer in adopting new sustainability reporting standards.
Adaralegbe’s appointment underscores Seplat Energy’s commitment to robust growth, corporate governance, and stakeholder management. In her new role, she is poised to steer the company towards continued success while upholding the highest standards of transparency and integrity.
In addition to her responsibilities at Seplat Energy, Adaralegbe serves on the board of Elcrest Exploration Nigeria Limited, further enriching her perspective on the industry landscape.
Speaking on her appointment, Adaralegbe expressed enthusiasm for the opportunity to contribute to Seplat Energy’s journey and reiterated her commitment to driving value creation and sustainability across the organisation.
