The board of Ardova Plc, on Thursday announced the exit of Olu Adeosun as Chief Executive Officer (CEO) to pursue new interests and opportunities, effective August 31, 2023.
A statement by the company said he has, however, committed to remaining involved with the activities of the company till December 31, to ensure a seamless transition to the new executive management.
In line its established succession planning process, the company has appointed Moshood Olajide as replacement to advance AP’s post-delisting transformation into one of Africa’s leading integrated energy company.
Commenting on the development, AbdulWasiu Sowami, Group Executive Chairman, Prudent Group (owners of Ardova Plc), sad the company “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.
Also commenting, Adeosun noted that “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 want to 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,” he stressed.