Seplat Energy PLC yesterday announced the resignation of its chief executive officer, Mr. Roger Brown, following last Wednesday’s interim order handed down by Justice C. J. Aneke of the Federal High Court, Lagos.
The court had restrained the Briton from parading himself as the firm’s CEO and “participating in the running of the company for a period of 7 days” pending the determination of a suit filed against him and others by aggrieved stakeholders of the company.
The aggrieved stakeholders had accused Brown of racism, favouritism for expatriate workers, discrimination against Nigerians, and breach of good governance.
Announcing Brown’s resignation, chairman of the company’s board, Mr. Basil Omiyi, said in a statement that the Briton had delegated authority to Seplat’s chief operating officer, Mr. Samson Ezugwore, to act as CEO during the period.
The statement revealed that Seplat had been served the court processes and the ex parte order.
“Seplat Energy Plc reports that on March 9, 2023, it was served with court processes and ex-parte Interim Order of the Hon Justice C. J. Aneke of the Federal High Court, Lagos, Nigeria, restraining the Chief Executive Officer from participating in the running of the company for a period of seven days,” the company said.
According to Seplat, the court’s order was premised on allegations of unfair, prejudicial, and offensive acts by the chairman, CEO and all of the independent non-executive directors of Seplat Energy.
The allegations included that the CEO organised a site visit for a number of its major shareholders to the company’s operations, cancelled some catering and landscaping contracts, and introduced a new job performance rating.
“The board believes that these allegations are a spurious and vindictive reaction to the enforcement of corporate governance standards in the company by the board of Seplat Energy. Over the past decade, Mr. Brown has earned an unblemished record of service and leadership in the company.
“In March 2023, the board of Seplat Energy unanimously passed a vote of confidence in Mr. Brown, who continues to discharge his duties and responsibilities as CEO from the SEPLAT UK office,” the company stated.
Seplat Energy further said Nigerians had been appointed to the company’s most important positions, including chairman, senior independent non-executive director, chief financial officer and chief operating officer, since Brown became CEO in 2020.
The company noted that the order allowed the chairman, Omiyi, and all the independent non-executive directors (INEDs) of Seplat Energy to continue running the affairs of the company on the basis that it is in accordance with Nigerian law.
“Brown has delegated authority to Mr. Samson Ezugworie, chief operating officer, to act as CEO during the period that he is required to step back from his executive duties.
“The injunction was filed by Mr. Moses Igbrude, Sarat Kudaisi, Kenneth Nnabike, Ajani Abidoye and Robert Ibekwe, who purport to have shares in Seplat Energy Plc.
“Seplat will follow the due processes of law in responding to the allegations before the courts.
“At the same time, the company will maintain its operational excellence and act in line with the best corporate governance standards,” the company added.
Recall that the ministry of interior revoked Brown’s work permit, visa, and residence permit over allegations of racism and discrimination.
The ministry, in a letter dated March 3, 2023, and addressed to the chairman of Seplat’s board, conveyed its decision revoking Brown’s work permit, visa, and residence permit.
Brown joined Seplat in 2013 as the chief financial officer and was made the company’s CEO in November 2019.
He assumed office in 2020.
