THUR 23 DEC, 2021-theGBJournal- Mr Austin Avuru, the co-founder of Seplat Energy who became CEO on 1 May 2010, was sacked by the Board who notified the NGX Exchange Thursday of its decision.
According to a statement by the firm, ‘’the Board of Seplat Energy announces that it terminated the contract of appointment of Mr. Austin Avuru as a Non-Executive Director on 22nd December 2021, due to breaches of the Company’s corporate governance policies and his fiduciary duties. The Board has called for his resignation as a Director of Seplat Energy.’’
‘’In line with Seplat Energy’s Memorandum and Articles of Association, Platform Petroleum Limited has been asked to nominate a candidate for his replacement on the Board, and a further announcement will be made in due course,’’ Seplat said.
Industry watchers was taken aback by the company’s swift decision, but many familiar with the development told theGBJournal that they it saw it coming a long while now.
Twitter-@theGBJournal|Facebook-The Government and Business Journal|email: govandbusinessj@gmail.com
