Aiteo, firm operating in Nigeria’s oil sector, has announced a restructuring of its senior leadership positions.
The firm said following the review of its operational and investment objectives and in reaction to prevailing business environment, the firm has restructured its executive management, naming a number of critical appointments and reassignments.
The Firm confirmed in a statement by its Chief Executive and Executive Vice Chairman, Benedict Peters, that promotion of Mr. Victor Okoronkwo who was formerly the firm’s Senior Vice President, Commercial & Gas for Aiteo E & P Limited, to the position of Managing Director.
The statement further confirmed that Mr Okoronkwo brings over 30 years of Oil and Gas experience to this position. Prior to joining Aiteo, he worked in various leadership capacities with the Shell Group in Nigeria and abroad as General Manager.
Also Mr. Emmanuel Ogagarue who was the General Manager, Assets will become the Director in charge of Asset Development and Engineering, while Mr. James Iwoh will become the Director in charge of Production and Operations, from his current position as General Manager, Operations.
The former Chief Financial Officer, Mr. Mitchell Uchegbulam, becomes Group Head, Planning, Budget and Implementation and will report to the Group Office while Mr. Taiye Eyewuoma, the former General Manager Joint Venture & Project Management was promoted to the position of Acting Chief Financial Officer, Aiteo E & P Limited.
Mrs. Osareme Archibong, who was the Deputy Chief Financial Officer/ Head Corporate Finance, becomes General Manager, Joint Venture Finance, Aiteo E & P Limited and Mr. Uzoh Anijah–Obi, who was the Treasury Manager becomes Deputy Chief Financial Officer, Aiteo E & P Limited.
The firm further explained that the organisation had undertaken the exercise driven by the necessity to realign its considerable interests across the various sectors within which it currently operates…to make the investment arms of the various businesses more effective; galvanise and enhance collective productivity to demonstrate visibly profitable outcomes for the ultimate benefit of its considerable stakeholders.
It also noted that all the appointments took immediate effect.
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