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MRS Oil appoints Priscilla Thorpe-Apezteguia Director and Managing Director

MRS-Oil

Following the resignation of Andrew Gbodume as the Managing Director/Chief Executive Officer of MRS Oil Nigeria Plc, the Board of the company has approved the appointment of Priscilla Thorpe-Apezteguia as the Director and Managing Director (Acting) of the oil firm.

The appointment, which was made known in a notice filed at the Nigerian Stock Exchange (NSE) on Thursday, took immediate effect and followed a written resolution of the company’s Board dated January 7.

“The Board of Directors of MRS Oil Nigeria Plc reviewed and approved the resignation of Andrew Gbodume as Managing Director/ Chief Executive Officer of the Company with immediate effect.

“By the aforementioned written resolution, the Board of Directors reviewed and approved the appointment of Priscilla Thorpe-Apezteguia as Director and Managing Director (Acting) of the Company,” the notice read.

Thorpe-Apezteguia holds a Bachelor of Arts degree in International Studies and Business from University of Coventry, United Kingdom.

She has over 17 years’ experience in the Oil and Gas sector and has held high-level positions in reputable organizations; such as Executive Director, Operations at Energy Solutions Integrated Services, Senior Manager, Business Development at OANDO Plc, Head of Marketing/ Customer Service Unit, Retail Manager, South West and Sales and Marketing Manager, all at MRS Oil Nigeria Plc.

Until her appointment as Director and Managing Director (Acting), she was the Group Sales and Marketing Manager of MRS Oil and Gas Limited.

Performance of MRS shares have been bearish on the floor of the NSE since the start of the year, the stock lost 9.92 percent of its value so far this year to close at N23.15 as at the close of business on Wednesday, January 9.

Results for the nine-month ended September 30, 2018 show that revenue of the Oil & Gas firm fell by 7.17 percent to N76.07 billion from N81.95 billion recorded in the corresponding period of 2017.

The drop in revenue coupled with blistered finance costs, which grew by 984 percent from N38 million to a whooping N417 million, triggered a loss of N425.76 million in the first nine months of 2018 for the company as against a profit of N809.16 million recorded in the same period of 2017.

 

OLUWASEGUN OLAKOYENIKAN