Olumide Adeosun, who has been serving as the Chief Executive Officer (CEO) of Ardova Plc is resigning from his role to explore new opportunities.
Gatekeepers News reports that his resignation, effective as of today, August 31, 2023, marks the conclusion of more than four years of leadership at the company.
Ardova Plc is a prominent Nigerian integrated energy company listed on the NGX.
Despite his departure, Ardova Plc has revealed that Olu Adeosun will continue to be involved in the company’s operations until December 31, 2023, ensuring a seamless transition to the new executive management.
In line with the company’s established succession plan, Moshood Olajide has been appointed as the New Managing Director.
AbdulWasiu Sowami, the Group Executive Chairman of Prudent Group, which is the parent company of Ardova Plc, has expressed enthusiasm about the company’s potential to create value in the energy industry.
“Ardova 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.” Sowami said
Olu Adeosun, in his departing statement, expressed gratitude to the Ardova Board, management, team, customers, partners, and dealers for their unwavering support during his tenure. He highlighted the strength of the Ardova brand across various channels and partnerships, stating that he believes now is the right time to pass on the leadership baton.
“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.” Adeosun said .
Ardova Plc boasts an expansive network of more than 695 retail outlets spread across Nigeria, supported by storage facilities located in Lagos and Rivers State. This extensive infrastructure allows the company to play a pivotal role in the procurement and distribution of crucial energy products, including petrol, diesel, aviation turbine kerosene, and liquefied petroleum gas.
Furthermore, Ardova has gained recognition for its production of high-quality lubricants, which are manufactured at its oil blending plant.
