The Board of Seplat Energy Plc., has announced the termination of the appointment of Mr Austin Avuru as a non-executive director effective Dec. 22.
The director, Legal/Company Secretary of Seplat, Mrs Edith Onwuchekwa, made this known in a notice posted on the website of the Nigerian Exchange (NGX) Ltd., on Thursday.
According to the notice, the termination of the appointment was due to breaches of the company’s corporate governance policies and his fiduciary duties.
The notice explained that the board had called for Avuru’s resignation as a director of Seplat Energy.
“In line with Seplat Energy’s Memorandum and Articles of Association, Platform Petroleum Ltd. has been asked to nominate a candidate for his replacement on the board.”
“A further announcement will be made in due course,” the notice said.