Lagos — Nigerian indigenous oil and gas company, Seplat Petroleum Development Company, Plc, has defended its appointment of a foreigner, Mr. Roger Brown as its next-in-line chief executive officer.
The defense came following controversies that trailed the announcement last month.
According to the memo sent to the Nigerian Stock Exchange, NSE, Seplat said it became necessary to defend its choice of Mr. Brown, adding that his appointment does not negate the provisions of the Nigerian Oil and Gas Industry Content Development Act, 2010.
The company’s current CEO, Mr. Austin Avuru, will be retiring in July 2020 after 10 years of leading the company- he steps down on 31 July 2020.
“As stated in the announcement dated 18th November 2019, Seplat had informed the public of the appointment of Mr. Roger Brown as the successor to Mr. Avuru as CEO, when Mr. Avuru steps down on 31 July 2020. Seplat is a law-abiding corporate citizen that maintains the highest level of corporate governance standards”.
“All the activities of Seplat as a corporate citizen are in fulfillment of all applicable laws and we hereby state categorically that the decision to appoint Mr. Roger Brown as the next CEO of Seplat is in full compliance with the Nigerian Content Development Act and is not in breach of any applicable law in Nigeria. We therefore expressly refute all allegations in the Publication, and hereby call on The Nigerian Stock Exchange and the Public to disregard the Publication in its entirety,” the statement read.
Mr. Brown joined Seplat in 2013 as the Chief Financing Officer.
Prior to joining Seplat, Mr. Brown was an advisor to the Company since 2010 while he was the Managing Director and head of EMEA Oil and Gas at Standard Bank Group.
Seplat is listed on both the Nigerian Stock Exchange and the London Stock Exchange.