Eterna Plc Appoints Olumide Adeosun as New MD/CEO
The Board of Directors of Eterna Plc has announced the appointment of Mr. Olumide Adeosun as the company’s new Managing Director/Chief Executive Officer, effective February 3, 2025.
In a statement issued on Thursday by the Company Secretary and Legal Adviser, David Edet, the Board expressed its gratitude to the outgoing MD/CEO, Mr. Abiola Lawal, whose resignation will take effect on January 31, 2025. The Board acknowledged Mr. Lawal’s exceptional contributions and leadership during his tenure, wishing him success in his future endeavors.
Congratulating Mr. Adeosun, the Board commended his extensive experience and expertise, expressing confidence in his ability to steer the company to greater heights.
Mr. Adeosun brings over 25 years of experience in finance and energy to his new role. Prior to his appointment, he served as Group Executive Director at Rainoil Limited and as a Non-Executive Director of Eterna Industries Limited. He also held the position of Chairman of the Major Energy Marketers Association of Nigeria (MEMAN) and has been an active advocate for clean energy, serving on advisory boards of renewable energy organizations.
His illustrious career began with PricewaterhouseCoopers (PwC) UK, where he worked as a Business Analyst in London. He later joined BP Plc, taking on senior roles in upstream finance, commercial operations, and business support. Notably, he was instrumental in developing BP’s Africa trading strategy, which led to the creation of BP Global West Africa Ltd in Nigeria.
During his tenure as Vice President of Commercial Development at BP, Mr. Adeosun drove initiatives that resulted in a 300% revenue growth within three years.
In 2015, he joined PwC’s West Africa Energy Advisory team in Lagos, where he managed transactions that secured over $1.5 billion in energy and infrastructure investments. One of his key achievements was leading the acquisition of a leading multinational midstream and downstream company.
In 2019, Mr. Adeosun became CEO of Ardova Plc, where he implemented a five-year transformation strategy focused on LPG and renewable energy. He also led the successful acquisition of a majority stake in the Olua Field on OML 25, forming a joint venture with other stakeholders.
Related Posts
A highly respected professional, Mr. 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.
Eterna Plc’s leadership transition marks a new chapter, with the Board confident that Mr. Adeosun’s extensive expertise will drive the company toward sustainable growth and innovation.
