Just in: Seplat CEO, Roger Brown, steps down after court order

The embattled Chief Executive Officer (CEO) of Seplat Energy Plc, Roger Brown, has stepped down from his position.

His action followed an order of the Federal High Court in Lagos which restrained him from the everyday running and management of the company pending the determination of the suit filed against him by some aggrieved stakeholders of the company

This was made known in a statement issued on Friday and signed by the Chairman of the Board of Directors of Seplat, Basil Omiyi, who said the decision followed the order of the Federal High court.

According to reports, the indigenous oil firm said that its Chief Operation Officer, Samson Ezugworie, will continue to act as the CEO during the period that Brown is required to step back from his executive duties.

The aggrieved stakeholders accused Brown of racism, favouritism for expatriate workers, discrimination against Nigerians, and breach of good governance.

Omiyi in the statement said that Seplat has been served the court processes and the ex parte order of Justice Chukwuejekwu Aneke of Federal High Court, Lagos. Nigeria, “restraining the Chief Executive Officer, Mr. Roger Brown from participating in the running of the Company for a period of 7 days.

The oil firm noted that the court order was premised on allegations of unfair, prejudicial, and offensive acts by the Chairman, CEO and all of the Independent Non-Executive Directors of Seplat Energy.

Seplat to follow due processes of law

The statement from Seplat partly reads, “The Order allows the Chairman, Mr. Basil Omiyi, and all the INEDS of Seplat Energy to continue running the affairs of the Company on the basis that it is in accordance with Nigerian law.

“Mr. Brown has delegated authority to Mr. Samson Ezugwore, Chief Operating Officer, to act as CEO during the period that he is required to step back from his executive duties.

“Seplat will follow the due processes of law in responding to the allegations before the courts. At the same time, the Company will continue to maintain its operational excellence and act in line with the best corporate governance standards.”

This is a developing story…

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