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Nov 4, 2005

Oando Appoints Two New Group Executives

In its drive to further strengthen its Group office and to achieve its vision to be the premier company driven by excellence, Oando Plc has announced with immediate effect the appointment of two new Group Executives to its Group Leadership Council, which is the highest ruling council for the company. They are Messrs Femi Adeyemo and Abiola Lawal.
Femi Adeyemo and Abiola Lawal were appointed as Group Chief Financial Officer (GCFO) and Group Head, Strategy and Risk Management for Oando Plc respectively.

Femi Adeyemo will be responsible for improving and developing new finance control processes to strengthen the overall group finance functions. He will also ensure working capital schedules are clearly and tightly managed across the group. On the other hand , Abiola Lawal will be responsible for providing leadership in the area of corporate/strategic planning, execution and business performance monitoring across the group. He will also be responsible for developing new business initiatives from project phase to full implementation.

According to the Group CEO of Oando Plc, Mr. Wale Tinubu, "we are building Africa 's largest integrated energy solutions group and we believe that our success hinges on employing talented professionals who can make a difference to our group of companies. We believe that these two individuals possess excellent track record and are capable of impacting our businesses positively".

Below are profiles of these new appointees:

FEMI ADEYEMO , Group Chief Financial Officer, Oando Plc.
Before joining Oando Plc, Femi was the Associate Principal, McKinsey Incorporated, one of the world's leading consulting firms. Prior to joining McKinsey Incorporated, he was the Financial Controller/Head of Operations at FSDH; he also worked with PwC as an Investment Banker/Auditor. Femi has extensive experience in Strategic Consulting especially in areas of Mergers and Acquisitions (M&A), operations reviews, strategy development and implementation as well as organization redesign and financial management.
Femi Adeyemo possesses a Master's Degree in Finance from the London Business School, a Master of Science in Engineering (Metallurgy and Material Science) from the University of Lagos and a Bachelor of Science in Engineering from the University of Ibadan. He is also a 13-year old Associate member of the Institute of Chartered Accountants of Nigeria.

ABIOLA LAWAL, Group Head, Strategy and Risk Management.
Abiola has an MBA from the Graduate School of Management at the University of California, Irvine and possesses a B.Sc in Economics from the University of Ilorin, Nigeria.
Abiola has worked previously with Walt Disney Company, Ernst & Young U.S. LLC and SAP America Inc where he was a Senior Consulting Manager. In the last decade, he has honed his expertise in areas such as Visioning, Strategic Planning, Post Merger Integration, ERP Integration, Technology Solutions, ROI Planning, Risk Management and Quality Assurance.

The Group Leadership Council of Oando is made up of the Group CEO, the Deputy Group CEO, the Group Office Executives (Group Strategy, Group Finance, Group HR Strategy and Group Legal Services), and the Chief Executives of each of the business entities within the group. Together, this Council provides direction for all the entities within the group.

For more information, please contact :

Tokunboh Durosaro
Head, Corporate Communications
Oando Plc
Stallion House, 2 Ajose Adeogun Street
Victoria Island, Lagos
Phone: 01 2625857
Email: tdurosaro@oandoplc.com
www.oandoplc.com