Seplat Issues Statement on Court Order Restraining CEO from Running Company
Mr. Samson Ezugworie, Chief Operating Officer, Seplat Energy Plc has been confirmed as the acting Chief Executive Officer, following an order of the Federal High Court, Lagos restraining Mr. Roger Brown, embattled CEO of the company from running the affairs of the company, pending the determination of the suit filed against him by some aggrieved staff and stakeholders of the organisation.
This was confirmed in a statement released and signed by Chairman, Mr. Basil Omiyi, Chairman Board of Directors of Seplat, and obtained by Lawyard on Friday.
According to the statement Seplat Energy Plc was served with court processes and ex-parte Interim Order of the Hon Justice C. J. Aneke of the Federal High Court, Lagos, restraining the CEO, Mr. Roger Brown from participating in the running of the Company for a period of 7 days.
Basil said that Mr. Brown has delegated authority to Mr. Samson Ezugworie, Chief Operating Officer, to stand it as the acting CEO, during the period that he is required to step back from his executive duties.
Basil said, “The interim orders are premised on allegations of unfair, prejudicial, and offensive acts by the Chairman, CEO and all of the Independent Non-Executive Directors (INEDs) of Seplat Energy.
“Seplat refutes the allegations & notes that since Mr. Brown became CEO in 2020, Nigerian nationals have been appointed to the company’s most important positions, including Chairman, Senior Independent Non-Executive Director, Chief Financial Officer & Chief Operating officer.
“The Board believes these allegations are a spurious and vindictive reaction to the Board’s enforcement of corporate governance standards and a determination to continue to uphold their fiduciary duties and loyalty to the Company.
He further confirmed that the Board of Seplat Energy has unanimously passed a vote of confidence in Mr. Brown as the CEO.
He also disclosed that the Court order allows him and all the Independent Executive Directors (INEDs) of Seplat Energy to continue running the affairs of the Company on the basis that it is in accordance with Nigerian law.
He further suggested that Seplat will follow the due processes of law in responding to the allegations before the courts, adding that the company will continue to maintain its operational excellence and act in line with the best corporate governance standards.
The acting CEO is an E&P professional with over 20 years of industry experience cutting across Front End Project Management, Asset Development Leader, Opportunity Maturation & Delivery Leader, Reservoir and Operations Geologist, Seismic acquisition, processing and interpretation.
