Seplat Energy reports that Roger Brown, its chief executive officer (CEO), has resigned.
In a statement released on Friday and signed by Seplat’s board chairman, Basil Omiyi, the business said that the decision was based on an order from a federal high court in Lagos.
Court had restrained Brown from performing his official duties pending the outcome of a lawsuit filed against him and other respondents by aggrieved company stakeholders over allegations of racism, favouring of expatriate workers, discrimination against Nigerians, and violation of good governance.
The court enjoined Brown and his proxies, privies, and agents from continuing to participate in the “day-to-day administration and management of Seplat Energy or in any other capacity pending the hearing and resolution of the petitioners’ motion on notice for interlocutory injunction.”
In reaction to the court’s decision, Seplat stated that Brown has transferred his responsibility to the company’s chief operational officer, Samson Ezugworie.
According to the statement, Ezugworie will continue to serve as CEO throughout Brown’s mandatory leave of absence.
The statement reads, “On March 9, 2023, Seplat Energy Plc was served with court processes and an ex-parte interim order by the honorable Justice C. J. Aneke of the federal high court in Lagos, Nigeria, restraining the chief executive officer, Mr. Roger Brown, from participating in the management of the company for a period of seven days.”
“The interim orders are based on claims of unfair, prejudiced, and offensive conduct by Seplat Energy’s chairman, chief executive officer, and all independent non-executive directors (INEDs).
“According to the charges, the CEO arranged a site visit for a number of the company’s important shareholders, canceled several catering and landscaping contracts, and implemented a new work performance evaluation.”
Thursday, Seplat branded the claims against Brown as a “spurious and vengeful reaction” to the company’s board’s enforcement of corporate governance rules.
Reiterating its position, the corporation disputed the charges, adding that Nigerian citizens have been hired to “the company’s most essential roles” since Brown became CEO in 2020.
It was stated that these posts consist of chairman, senior independent non-executive director, chief financial officer, and chief operational officer.
“The board considers these charges to be false and vindictive in response to its enforcement of corporate governance standards and its desire to continue to honor its fiduciary responsibilities and loyalty to the firm. Mr. Brown has received a unanimous vote of confidence from the Seplat Energy board, the company said.
“The order permits Seplat Energy’s chairman, Mr. Basil Omiyi, and other INEDs to continue managing the company in compliance with Nigerian law. Mr. Brown has delegated responsibility to Mr. Samson Ezugworie, chief operational officer, to serve as CEO during the time he is obliged to step back from his executive responsibilities.
Moses Igbrude, Sarat Kudaisi, Kenneth Nnabike, Ajani Abidoye, and Robert Ibekwe, who claim to own shares in Seplat Energy Plc, sought the injunction.
“Seplat will react to the court’s claims in accordance with legal procedures”
The company emphasized that it will continue to uphold operational excellence and adhere to the highest standards of corporate governance.
In the meantime, Rauf Aregbesola, minister of interior, canceled Brown’s work permit, visa, and residency permit in response to a petition filed against Brown by Seplat employees.
