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(Alliance News) - Seplat Petroleum Development Co PLC on Monday said Chief Executive Austin Avuru will be retiring in July 2020 after 10 years of leading the company.
The Nigerian-based oil & gas exploration company said Roger Brown will succeed Avuru as CEO, leading the restructuring during the transition period.
Brown joined Seplat in 2013 as the finance head and played a "key" role in the dual listing of the company in 2014, it said. Seplat said it expects Brown's "strong" financial, commercial and mergers & acquisitions experience to embark on the next phase of its growth plan.
"While we thank Avuru for a meritorious service, we welcome Brown and wish him every success in his upcoming new role," the company said in its statement Monday.
Seplat shares were trading 1.7% higher in London on Monday at 123.50 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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