MRS Oil Nigeria Plc announces resignation of MD

The Board and Management of Mrs Oil Nigeria Plc, have approved the resignation of Andrew Gbodume as Managing Director/ Chief Executive Officer of the Company with immediate effect.

By the aforementioned resolution, the Board of Directors reviewed and approved the appointment of Priscilla Thorpe-Apezteguia as Director and Managing Director (Acting) of the Company.

Thorpe-Apezteguia’s appointment is also effective immediately.

The man Andrew Gbodume

Gbodume holds a masters degree from Ahmadu Bello University, Zaria. He is a fellow of the Institute of Chartered Accountants of Nigeria and an associate member of the Nigerian Institute of Management as well as Nigerian Institute of Taxation.

He is a financial and economic consultant with many years of experience which cut across finance, audit, insurance and banking industry. He is also a member of the Institute of Directors. He has attended several courses locally and internationally including courses at the Havard Business School, Boston.

Prior to joining Mrs Oil Nigeria Plc, he had a stint with African International Bank  (AIB) where he rose to the position of an Assistant General Manager of the Financial Control and Management Department, a position he held for over 5 years. He joined MRS Oil and Gas Co. Ltd as Assistant General Manager, Finance and Corporate Planning in 2007. A year after, the position was re-designated as Deputy General Manager. In 2008, he was appointed as the Director, Special Duties

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As a result of his excellent performance, he was appointed Ag. Managing Director MRS Investment Co. Ltd in July 2010, before his secondment to MRS Oil Nig Plc. He was appointed Executive Director of Finance & Administration on May 12, 2011.

On the 1st January 2016, Gbodume was appointed as the Managing Director of Mrs Oil Nigeria Plc.

About Mrs Oil Nigeria Plc

Headquartered in Lagos, MRS Oil Nigeria Plc is a Nigerian oil marketing firm which was incorporated in 1969. Its shares were listed on the Nigerian Stock Exchange in 1990.

The company is specialised in the merchandising of refined petroleum products such as Petroleum motor spirit (PMS), lubricants, and aviation kerosene, etc.

The company’s recently released third quarter 2018 financial statement shows that revenue dropped from ₦81.9 billion in Q3 2017 to ₦76 billion in Q3 2018.

Similarly, the company recorded a loss after tax of ₦425.7 million during the nine-month period, compared to a profit after tax of ₦809.1 million during the same period last year.

MRS Oil Nigeria Plc’s stock is currently trading at ₦23.15.

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Author: see naija

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