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The Nigerian energy conglomerate Aiteo has restructured its management team to improve productivity and increase efficiency

Victor OkoronkwoVictor Okoronkwo, the new managing director at Aiteo E&P Limited. (Image source: Aiteo Group)

The company stated that the restructuring was carried out after reviewing its operational and investment goals.

In response to the prevailing business environment, Aiteo has made a number of critical appointments and reassignments.

Chike Onyejekwe, the pioneer managing director of Aiteo E & P Limited, will retire from the company and be replaced by Victor Okoronkwo. Currently, senior vice-president, commercial and gas for Aiteo E & P Limited, Okoronkwo brings to this position more than 30 years of oil and gas experience.

Also, Emmanuel Ukegbu, the chief operating officer of Aiteo E & P Limited, will be retiring from the company. In related moves, Emmanuel Ogagarue currently general manager, assets will become the director in charge of asset development and engineering.

From his current position as general manager, James Iwoh will become the manager in charge of production and operations.

The current chief financial officer, Mitchell Uchegbulam, becomes group head, planning, budget and implementation and will report to the group office.

Taiye Eyewuoma, presently general manager of the joint venture and project management, becomes an acting chief financial officer, Aiteo E & P Limited.

Osareme Archibong, current deputy chief financial officer/head of corporate finance, becomes general manager, joint venture finance, Aiteo E & P Limited, while Uzoh Anijah–Obi, currently treasury manager, becomes deputy chief financial officer, Aiteo E & P Limited. The company noted that all appointments take effect immediately.

Benedict Peters, Aiteo’s chief executive and executive vice-president, explained that the organisation had undertaken the exercise driven by the need to realign its considerable interests across the various sectors in which it currently operates.

“To make the investment arms of the various businesses more effective; galvanise and enhance collective productivity to demonstrate visibly profitable outcomes for the ultimate benefit of its considerable stakeholders,” he added.

“The uniqueness of the group demands that an infusion of important impetus is given the necessary momentum by recognising as well as empowering major positions within the group and realigning its considerable person-capacity to fit operational demands,” he observed.