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Monday, April 29, 2019
Nigerian indigenous firm Aiteo Group has a new managing director. In a statement, the company said that in light of a review of its operational and investment objectives and in reaction to the prevailing business environment, it had restructured its executive management. The company made a number of “critical” appointments and reassignments.
Chike Onyejekwe, the pioneer managing director of Aiteo E & P Limited will be retiring from the company. Onyejekwe is being replaced by Victor Okoronkwo who is currently senior VP, Commercial & Gas for Aiteo E& P. Okoronkwo brings over three decades of experience in the industry. Prior to joining Aiteo, he worked in various leadership capacities with the Shell Group in Nigeria and abroad as General Manager.
In confirming the appointments its Chief Executive and Executive Vice Chairman, Benedict Peters, explained that the organization had undertaken the exercise driven by the necessity to realign its considerable interests across the various sectors within which it currently operates,“…to make the investment arms of the various businesses more effective; galvanize and enhance collective productivity to demonstrate visibly profitable outcomes for the ultimate benefit of its considerable stakeholders…” Peters further observed that “… the uniqueness of the Group demands that an infusion of important impetus is given the necessary momentum by recognizing as well as empowering key positions within the Group and realigning its considerable person-capacity to fit operational demands,” he said.
In addition to the appointment of a new managing director, the company revealed that Emmanuel Ukegbu the COO of Aiteo E & P Limited would be retiring also. Emmanuel Ogagarue currently General Manager, Assets will become the Director in charge of Asset Development and Engineering. James Iwoh will become the Director in charge of Production and Operations, from his current position as General Manager, Operations.
Mitchell Uchegbulam the current CFO, becomes Group Head, Planning, Budget and Implementation and will report to the Group Office. Taiye Eyewuoma, presently General Manager Joint Venture & Project Management becomes Acting CFO, replacing Uchegbulam.
Osareme Archibong, current Deputy CFO/ Head Corporate Finance, becomes General Manager, Joint Venture Finance, Aiteo E & P Limited. Archibong is replaced by Uzoh Anijah–Obi, currently Treasury Manager.
All appointments were with immediate effect.
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