The Board of Directors of Eterna Plc has announced the appointment of Olumide Adeosun as the company’s new Managing Director/Chief Executive Officer, effective February 3, 2025.
This was disclosed in a statement issued on Thursday by the Company Secretary/Legal Adviser, David Edet. The appointment follows the resignation of the outgoing MD/CEO, Mr. Abiola Lawal, whose tenure ends on January 31, 2025. The Board commended Mr. Lawal for his exemplary leadership and significant contributions to the company during his tenure.
The Board congratulated Adeosun on his appointment, expressing confidence in his ability to drive the company’s growth and success.
Professional Background and Achievements
Prior to his appointment, Adeosun served as the Group Executive Director of Rainoil Limited and as a Non-Executive Director at Eterna Industries Limited. He is the immediate past Chairman of the Major Energy Marketers Association of Nigeria (MEMAN) and a strong advocate for clean energy, serving on advisory boards of renewable energy organizations.
Adeosun brings over 25 years of experience in finance and energy. He began his career as a Business Analyst under the PricewaterhouseCoopers (PwC) UK graduate program in London. He later joined BP Plc, where he held senior roles in upstream finance, business support, and commercial operations.
Notably, he played a pivotal role in BP’s Africa trading strategy, leading to the establishment of BP Global West Africa Ltd in Nigeria. As Vice President of Commercial Development at BP, he achieved a 300% revenue growth within three years.
In 2015, Adeosun joined PwC’s West Africa Energy Advisory team in Lagos, leading transactions that secured over $1.5 billion in infrastructure and energy investments, including the acquisition of a leading multinational midstream and downstream company.
In 2019, he was appointed CEO of Ardova Plc, where he implemented a five-year transformation strategy focused on LPG and renewable energy. He also successfully led the acquisition of a majority stake in the Olua Field on OML 25, forming a joint venture within a record timeframe.
Professional Affiliations and Education
Adeosun is a member of the Financial Reporting Council of Nigeria, a Fellow of the Chartered Institute of Directors, and a member of the Society for Petroleum Engineers (SPE).
He holds a Bachelor of Architecture degree from Woodbury University, California, and an MSc in Mathematics from Royal Holloway, University of London.
The Board expressed optimism about Adeosun’s leadership, highlighting his extensive experience and achievements as key assets for Eterna Plc’s future growth.
