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Ardova’s Olu Adeosun resigns, replaced by Moshood Olajide



Oil exploration, acquisition forces Ardova to miss financial release deadline

The Chief Executive Officer (CEO) of Ardova Plc, Olu Adeosun, has resigned from his position and Moshood Olajide has been appointed as the new Managing Director of the oil and gas firm.

Adeosun’s resignation took effect on August 31, 2023, according to a statement by the company seen on Friday. However, he is expected to perform other official duties till December 31, 2023.

Commenting on his departure from Ardova, Adeosun 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.”

Meanwhile, the Group Executive Chairman of Prudent Group, the parent company of Ardova Plc, AbdulWasiu Sowami, said: “Ardova is the crown jewel in our portfolio and is in an exciting position to create value in the energy industry, with many opportunities ahead, I look forward to working closely with our partners and the Ardova leadership to continue executing on the company’s long-term vision & strategy.

“On behalf of the Board of Directors and staff, I thank Olu for his contributions to the growth of the company. We wish him well in the future.”

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