Olu Adeosun, Chief Executive Officer of Ardova Plc, is exiting his role to pursue new opportunities, the company’s Board of Directors announced on Thursday.
His resignation, effective August 31, 2023, brings to an end over four years of leadership at the company.
Despite his departure, the company stated that Olu Adeosun will remain engaged with Ardova’s activities until December 31, 2023, to ensure a smooth transition to the new executive management.
Meanwhile, Moshood Olajide has been appointed as the new Managing Director, in line with the company’s established succession planning process.
AbdulWasiu Sowami, Group Executive Chairman of Prudent Group, the parent company of Ardova Plc, expressed his excitement about the company’s potential for creating value in the energy industry.
In his departing statement, Adeosun expressed gratitude to the Ardova Board, management, team, customers, partners, and dealers for their unwavering support during his tenure.
He highlighted the strength of the Ardova brand across various channels and partnerships, stating that he believes now is the right time to hand over leadership.
He said, “After over four years of building a market offering leveraging the strength and customer loyalty of the AP brand across multiple channels and partnerships, I believe this is the right point to hand over leadership.
“I want to thank the incredible Ardova Board, management, team, our customers, and partners – especially our formidable dealers for their relentless support.
“I will work with the Chairman and the Board to ensure a smooth transition and I will continue to be a customer, stakeholder, and lifelong fan of Ardova, its products & services.”
Ardova Plc is a Nigerian integrated energy company with an extensive network of over 695 retail outlets in Nigeria and storage facilities in Apapa, Lagos, and Onne, Rivers State. The company procures and distributes petrol (PMS), diesel (AGO), aviation turbine kerosene (ATK), and liquefied petroleum gas (LPG), among others.
