Seplat Petroleum Development Co PLC Appointment of Two Independent Non-Exec Directors (3734X)
28 August 2020 - 1:05AM
UK Regulatory
TIDMSEPL
RNS Number : 3734X
Seplat Petroleum Development Co PLC
27 August 2020
Seplat Petroleum Development Company Plc ("SEPLAT" or the
"Company")
Appointment of Two ("2") Independent Non-Executive Directors of
the Company
Lagos and London - August 27, 2020: The Board of Directors of
Seplat Petroleum Development Company Plc ("SEPLAT" or the
"Company") is pleased to announce the appointment of Ms. Arunma
Oteh, OON and Mr. Xavier Rolet KBE as Independent Non-Executive
Directors of the Company, joining the Seplat Board with effect from
October 1, 2020.
Ms. Arunma Oteh, OON is a seasoned C-suite executive with
several years of experience operating at the highest levels at
major multilateral agencies, global financial institutions and in
Government. She has been an academic scholar at the University of
Oxford since January 2019 and a member of the London Stock Exchange
Africa Advisory Group since January 2020. Ms. Oteh served as
Treasurer and Vice President of the World Bank from 2015 to 2018.
As Treasurer, she led a global team that managed the World Bank's
$200 billion debt portfolio as well as an asset portfolio of $200
billion for the World Bank Group and several public sector clients
including 65 central banks. She was responsible for a $600 billion
derivatives portfolio used for hedging and risk management
purposes. She had oversight over a treasury operation with an
annual cash flow of $7 trillion and led an extensive public sector
financial advisory business, pioneering a number of innovative
solutions such as the world's first ever pandemic bond in 2017 and
blockchain public bond in 2018. Ms. Oteh was the Director General
of the Securities and Exchange Commission ("SEC") Nigeria from 2010
to 2015. As Director General of Nigeria's apex capital market
regulator, she was responsible for the regulation of Nigeria's
capital markets, including the Nigerian Stock Exchange and led the
rebuilding of the capital markets after the global financial
crisis. She also served on Nigeria's Economic Management team,
chaired by the Nigerian President. Previous to SEC Nigeria, she
worked at the Africa Development Bank for 17 years in a variety of
roles including Group Vice President, Corporate Services (2006 to
2009) and Group Treasurer (2001 to 2006). Her career started in
1985 at Centre Point Investments Limited, a Nigerian investment
bank. Ms. Oteh has also served on several Boards, notably, the
International Organization of Securities Commissions (2010 to 2015)
which regulates 95% of the world's securities markets. She obtained
a first class honours degree in Computer Science, from University
of Nigeria Nsukka in 1984 and a Master's degree in Business
Administration, from Harvard Business School in 1990. She has
received several recognitions, notably, the Officer of the Order of
the Niger (OON) National Honour for her contribution to the
economic development of Nigeria and role in transforming the
Nigerian capital markets. She was also named the 2014 Ai Capital
Market Personality of the Year, and among New African's "100 Most
Influential Africans of 2015". In 2018, she was honoured as the Ai
Global Institutional Investment Personality of the Year, and in
2020, was named both the top 100 people in the UK of African
heritage, by Power list and Africa top 50 women by Forbes.
Mr. Xavier Rolet, KBE . is an experienced CEO, Co-Founder, and
Entrepreneur. Named as one of the 100 Best CEOs in the World in the
2017 Harvard Business Review, Mr. Rolet has demonstrated a history
of successful turnarounds in the global financial services
industry. In his decade at the helm of the London Stock Exchange,
the LSE's market valuation rose from GBP800m to more than GBP15bn,
transforming it into one of the world's largest exchanges by market
capitalization. He is currently the Chairman, Board of Directors at
Phosagro PJSC, a member of the Board of Directors of the Saudi
Stock Exchange Tadawul as an appointee of the Public Investment
Fund, and an Expert Adviser to the Shanghai Institute of Finance
for the Real Economy. He has held various senior positions in the
financial services industry throughout his career: CEO of CQS, a
global hedge fund; CEO of Banque Lehman Brothers in Paris; co-head
of Global Equity & Derivatives Trading at Lehman Brothers New
York; Global Head of Risk and Trading at Dresdner Kleinwort
Wasserstein; Vice-President, International Equity Risk Arbitrage at
Goldman Sachs New York; and co-Head of European Equities Sales and
Trading at Goldman Sachs International Ltd in London. Mr. Rolet
received his post-graduate degree in Defense Studies and Economic
Intelligence from Institut des Hautes études de défense Nationale
("IHEDN"), an MBA in International Finance from Columbia Business
School, and an MSc in Management from Kedge Business School. Mr.
Rolet is an Honorary Knight Commander of the Order of the British
Empire (KBE), a Knight of the National Order of the Legion of
Honour of France, an Officer of the Royal Sharifian Order of
Al-Alawi, and a Member of the Order of Friendship of the Russian
Federation.
Commenting on the appointments, Dr. Bryant Orjiako, Chairman of
SEPLAT said:
"The Board of SEPLAT is delighted to be joined by two such
distinguished international business leaders. Both Arunma Oteh and
Xavier Rolet bring extensive expertise in the fields of regulation,
capital markets and business governance and their knowledge and
wisdom will be a great addition to our Board. SEPLAT has a great
future ahead and I look forward to the immense contribution they
will make towards the continuing success of the Company."
This announcement is being made in accordance with Rule 4 of the
Nigerian Stock Exchange Amended Listing Rules and Rule 9.6.11 of
the UK Listing Rules .
- ENDS -
For: Seplat Petroleum Development Company Plc
MRS. EDITH ONWUCHEKWA
COMPANY SECRETARY/CHIEF GOVERNANCE COMPLIANCE OFFICER
Enquiries:
Seplat Petroleum Development Company Plc
Emeka Onwuka, Chief Financial Officer +234 (01) 277 0400
Chioma Nwachuku, GM External Affairs and Communications
Edith Onwuchekwa, Company Secretary/Chief
Governance Compliance Officer
+44 (0) 203 725
Carl Franklin, Head of Investors Relations 6500
FTI Consulting
+44 (0) 203 727
Ben Brewerton / Sara Powell 1000
seplat@fticonsulting.com
Notes to editors
Seplat Petroleum Development Company Plc is Nigeria's leading
indigenous energy company. It is listed on the Nigerian Stock
Exchange (NSE: SEPLAT) and the Main Market of the London Stock
Exchange (LSE: SEPL).
Seplat is pursuing a Nigeria-focused growth strategy and is well
positioned to participate in future asset divestments by
international oil companies, farm-in opportunities, and future
licensing rounds. The Company is a leading supplier of gas to the
domestic power generation market. For further information please
refer to the Company website, http://seplatpetroleum.com/
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