Eterna Plc has made significant changes to its management team, announcing the appointment of Mr. Jude Nwaurune as the new Managing Director and Chief Executive Officer, effective May 14. Concurrently, the company disclosed the retirement of Phebeen Ifidi, who served as the executive director of corporate services.
The lubricant manufacturer shared these leadership updates in a statement released on the Nigerian Exchange (NGX) on Friday, signed by Secretary David Edet.
Board Approval of Leadership Change
The board of directors has unanimously approved Mr. Nwaurune’s appointment as Managing Director and CEO, with his official start date set for May 14. He succeeds Mr. Olumide Adeosun, who resigned from the position on May 13.
The company issued a formal announcement stating that Nwaurune’s extensive experience and proven leadership abilities made him a strong fit for the top executive role. The board expressed its gratitude toward Mr. Adeosun for his valuable contributions during his tenure and wished him success in future pursuits.
Profile of the New CEO
Mr. Nwaurune brings over 19 years of executive experience in sales, marketing, business development, logistics, and operations management within Nigeria’s downstream energy sector. Before his new appointment at Eterna Plc, he served as the Managing Director of Rainoil Logistics Services Limited.
Over the past dozen years, he has been instrumental in spearheading strategic growth initiatives and market expansion across various segments of the energy industry. His expertise encompasses corporate strategy, supply chain optimization, brand development, and business transformation.
An alumnus of Ambrose Alli University, Ekpoma, Mr. Nwaurune graduated with a Bachelor’s degree in Business Administration and holds several advanced degrees, including a Postgraduate Diploma in Journalism, an MSc in Marketing Communications, and a PhD in Strategic Marketing Management from Babcock University.
He is an active member of various professional organizations, including the Chartered Institute of Logistics and Transport (CILT) and the National Institute of Marketing of Nigeria (NIMN). In addition to his professional accomplishments, he has authored three books and published numerous articles in both local and international journals.
Transition of Corporate Services
Phebeen Ifidi, who joined Eterna as executive director of corporate services in October 2021, officially retired on May 13. The company has praised her leadership, noting that her efforts significantly bolstered the organizational framework and operational structure throughout her tenure.
The recent changes in leadership reflect Eterna Plc’s commitment to enhancing its governance practices and achieving operational excellence. The board expressed its sincere appreciation for Ms. Ifidi’s contributions and wished her well in her future endeavors.
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As part of its ongoing initiatives, Eterna Plc continues to focus on strategic growth and operational advancements in response to evolving market demands. The company remains dedicated to sustaining its leadership position in the lubricant industry while ensuring a smooth transition during this period of change.
