Nigeria: Seplat Energy appoints Eleanor Adaralegbe as Executive Director /CFO

The Board of Directors at Seplat Energy has announced the appointment of Eleanor Adaralegbe as Executive Director, starting May 1, 2024.

Eleanor will assume the role of Chief Financial Officer from May 21, 2024. Simultaneously, the board announced the retirement of Mr. Emeka Onwuka as Executive Director, effective May 1, 2024.

In line with previous announcements made during the half-year 2023 financial results, Mr. Emeka Onwuka will retire as Chief Financial Officer of Seplat Energy, effective May 21, 2024.

“To succeed Mr. Emeka Onwuka, the Board is pleased to announce the appointment of Mrs Eleanor Adaralegbe as an Executive Director on the Board effective May 1, 2024, and as the Chief Financial Officer effective May 21, 2024. This strategic decision aligns strongly with the Board’s Succession Forward Plan,” the board said. 

In a statement signed by Mrs. Edith Onwuchekwa, Director and Legal/Company Secretary, Eleanor Adaralegbe is introduced as a highly accomplished finance executive with over 30 years of experience, particularly within the oil and gas sector.

A graduate in Mathematics from the University of Nigeria, Nsukka, Eleanor furthered her education with an MSc in Global Finance from BAYES Business School, City University of London, and completed the Advanced Management Program at Harvard Business School.

Eleanor’s professional credentials include being a chartered accountant and a Fellow of the Institute of Chartered Accountants of Nigeria. Her career journey began at Ernst & Young International and has since seen her hold significant positions, notably serving as Vice President of Finance and CFO Designate at Seplat Energy PLC.

Throughout her tenure at esteemed companies like ConocoPhillips, Addax Petroleum, and Devon Energy, Eleanor has consistently demonstrated leadership in financial strategy, control, and innovation.

Eleanor’s career highlights include spearheading finance and commercial operations at Devon’s Nigerian subsidiary, where she successfully orchestrated a significant gas plant buyback and conducted financial due diligence for a substantial acquisition valued at approximately $500 million on the London Stock Exchange.

She has also played a pivotal role in capital raising and joint venture financing initiatives, while pioneering advancements in business processes.

As an advocate for diversity and inclusion, Eleanor has been a dedicated champion of these values within the corporate landscape for over a decade. Her leadership initiatives have been instrumental in Seplat becoming one of Nigeria’s early adopters of the new IFRS S1 & S2 Sustainability Reporting Standards.

With a well-documented history of navigating intricate negotiations and adeptly managing stakeholders, Eleanor contributes a strategic and forward-looking perspective to financial management and corporate governance, fostering both robust growth and compliance.

In addition to her role at Seplat Energy, Eleanor serves on the board of Elcrest Exploration Nigeria Limited. Regarding the recent Board changes, she expressed her thoughts on the matter.