Eterna Plc appoints new managing director

“The Board expresses its sincere appreciation to Mr Adeosun for his valuable contributions, leadership, and service to the Company during his tenure and wishes him every success in his future endeavours,” the company noted.

Eterna Plc has announced a reshuffle of its leadership setup after appointing Jude Nwaulune as the Managing Director/Chief Executive Officer of the Company, effective from 14 May.

The company also announced the retirement of Phoebean Ifeadi as Executive Director, Corporate Services of the company.

The lubricants manufacturer disclosed the leadership change in separate statements posted on NGX and signed by its secretary, David Edet, on Friday.

Managing Director

The company’s board approved Mr Nwaulune’s appointment as Managing Director/Chief Executive Officer, and he is expected to resume operations on 14 May.

Mr Nwaulune succeeded Olumide Adeosun, who resigned as Managing Director/Chief Executive Officer on 13 May.

“Eterna PLC (“the Company”) hereby notifies Nigerian Exchange Limited (“NGX”) and the investing public that the Board of Directors has approved the appointment of Dr Jude Nwaulune as the Managing Director/Chief Executive Officer of the Company with effect from 14 May 2026.

“Dr Nwaulune succeeds Mr Olumide Adeosun, who resigned as Managing Director/Chief Executive Officer with effect from 13 May 2026.

“The Board expresses its sincere appreciation to Mr Adeosun for his valuable contributions, leadership, and service to the Company during his tenure and wishes him every success in his future endeavours,” the company noted.

Eterna Plc stated that its decision was inspired by Mr Nwaulune’s strong leadership capabilities, commercial acumen, and extensive experience in petroleum retail expansion, Liquefied Petroleum Gas (LPG) penetration, petroleum bulk storage management, and nationwide distribution operations.

Profile

The new Managing Director, Mr Nwaulune, is a seasoned business executive with over 19 years of professional experience spanning sales, marketing, business development, logistics, and operations management within Nigeria’s downstream energy sector.

Before he was appointed Managing Director/CEO of Eterna Plc, Mr Nwaulune was the Managing Director of Rainoil Logistics Services Limited.

Over the past 12 years, he has played a pivotal role in driving strategic growth initiatives, operational efficiency, and market expansion across various business segments in the energy industry.

According to the company, Mr Nwaulune’s expertise cuts across corporate strategy, supply chain optimisation, brand development, and business transformation.

He holds a Bachelor’s degree in Business Administration from Ambrose Alli University, Ekpoma, graduating with Second Class Upper Division honours.

The newly appointed CEO also obtained a Postgraduate Diploma in Journalism with distinction in Public Relations and Advertising from the Nigerian Institute of Journalism (NIJ), as well as a Master of Science (MSc) in Marketing Communications and a PhD in Strategic Marketing Management from Babcock University.

He is a member of several professional bodies and institutes, including the Chartered Institute of Logistics and Transport (CILT), the Chartered Institute of Personnel Management of Nigeria (CIPMN), the National Institute of Marketing of Nigeria (NIMN), the Nigerian Institute of Management (NIM), the Nigerian Institute of Public Relations (NIPR), and the Nigerian Institute of Training and Development (NITAD).

Mr Nwaulune has published several articles in both local and international journals and is the author of three books. He has also participated in numerous executive training programmes, conferences, and professional development sessions across Nigeria, Africa, and Europe.

Retirement

Mrs Ifeadi, who was appointed in October 2021, retired as the company’s Executive Director, Corporate Services, with effect from 13 May.

Eterna Plc extolled the ex-director’s exemplary leadership across the company’s corporate services functions, noting that her contributions strengthened the company’s institutional frameworks.

“Eterna PLC (“the Company”) hereby notifies Nigerian Exchange Limited and the investing public of the retirement of Mrs Phoebean Ifeadi as Executive Director, Corporate Services of the Company, with effect from 13 May 2026.

Mrs Ifeadi was appointed to the Board as Executive Director, Corporate Services in October 2021. During her tenure, she provided exemplary leadership across the Company’s corporate services functions, making significant contributions to the strengthening of the Company’s institutional frameworks, operational structures, and governance practices.

“The Board extends its profound appreciation to Mrs Ifeadi for her outstanding service and wishes her continued success in her future endeavours,” the statement noted.