The Board of Seplat Energy Plc has unanimously endorsed a vote of confidence in the organization’s Chief Executive Officer, Roger Brown, who was recently barred from taking part in its management.
Remember that on March 9, 2023, Seplat received court papers and an ex-parte interim order from Justice C. J. Aneke of the Federal High Court, Lagos, Nigeria, prohibiting Brown from managing the business for a week.
The business’s board of directors stated in a statement issued by its chairman, Basil Omiyi, that they feel these accusations are unfounded and motivated by retaliation for upholding corporate governance standards and their commitment to the company.
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The claims against the Chairman, CEO, and all Independent Non-Executive Directors (INEDs) of Seplat Energy center on discriminatory, defamatory, and disrespectful activities.
The CEO is alleged to have cancelled several catering and landscaping contracts, organized a site visit for a number of the company’s important shareholders, and implemented a new work performance evaluation.
Seplat denied the claims, claiming that Nigerian citizens had been promoted to the company’s most critical roles, including chairman, chief financial officer, and chief operational officer, since Brown took over as CEO in 2020.
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The order permits Omiyi and all of Seplat Energy’s INEDs to continue managing company affairs on the grounds that they are compliant with Nigerian law.Samson Ezugworie, the Chief Operational Officer, had been given permission by Brown to assume the role of CEO while he was obliged to take a break from his executive responsibilities.
Moses Igbrude, Sarat Kudaisi, Kenneth Nnabike, Ajani Abidoye, and Robert Ibekwe, who claimed to own shares in Seplat Energy Plc, filed the order. Seplat will reply to the accusations brought before the courts in accordance with the law.
The company would continue to behave in accordance with the best corporate governance standards and preserve its operational excellence at the same time, he said.
