Oando Plc announced that in accordance with Section 249 of the Companies and Allied Matters Act, Cap 20, Law of the Federation of Nigeria 2004 and Article 88 of the Company's Articles of Association has appointed Dr. Ainojie Alex Irune as an Executive Director of the Company effective August 9, 2019. Dr. Ainojie Alex Irune is the Chief Operating Officer, Oando Energy Resources (OER), the upstream subsidiary of Oando PLC. Prior to assuming this role, he was the Group Chief Strategy & Corporate Services Officer at Oando PLC from 2016 to 2018. Following the fallout from the crash in oil prices in 2015 he was responsible for spearheading strategic initiatives aimed at restructuring the business and reducing the Group's debt obligations, with an overall objective of re-positioning the Company towards a path of sustainable growth. These initiatives included partial business divestments to Vitol and Helios Investment Partners that generated inflows of over USD 330 million - part of which was used to significantly reduce the Company's overall debt obligations. He also served as the Head of Corporate Communications from 2013 to 2016, where he oversaw all internal and external brand-building efforts across the Company's business entities. Dr. Irune spearheaded the global communications strategy following Oando's successful $1.5 billion acquisition of ConocoPhillips Nigeria's upstream assets. Mr. Mobolaji Osunsanya, a Non-Executive Director of the Company resigns from the Board with effect from August 9, 2019. Until his resignation, he was a member of the Audit Committee, Strategy and Finance Committee and the Risk, Environmental, Health, Safety, Security and Quality Committee.