Seplat Energy names Tony Elumelu chairman, Effiong Okon CEO

Seplat Energy Plc has announced a major leadership transition, appointing billionaire investor and United Bank for Africa Chairman Tony Elumelu as its next chairman and veteran engineer Effiong Okon as its new chief executive officer. The changes are part of a structured succession plan disclosed in a regulatory filing on Tuesday, June 9, 2026.

Elumelu is scheduled to assume the role of chairman on January 1, 2027, succeeding Senator Udoma Udo Udoma, who informed the board of his intention to retire on December 31, 2026. Okon will become CEO on August 1, 2026, replacing Roger Brown, who will retire on July 31 after a 13-year tenure with the company, including six years as its chief executive.

The company described the transition as the beginning of a new chapter aimed at ensuring continuity and supporting the execution of its long-term growth strategy, known as Roadmap 2030. Elumelu's appointment follows his acquisition of a significant stake in Seplat. Through Heirs Energies, a subsidiary of his investment company Heirs Holdings, Elumelu acquired a 20.07 percent stake in Seplat in a transaction valued at approximately $500 million, making Heirs Energies the company's single...