Lekoil appoints Michael Ajukwu as its new chairman

Nigeria and West Africa-focussed oil and gas exploration and development company Lekoil announced the appointment of Michael Ajukwu as its chairman on Monday, with immediate effect.

The AIM-traded firm said the move was made following the resignation of Mark Simmonds.

“I am honoured to assume the position of chairman of Lekoil, and would like to thank my predecessor, Mark Simmonds, for his contributions to the company,” said Michael Ajukwu.

“I look forward to working with my colleagues on the board and the management of Lekoil to deliver a high performing company anchored on strong governance structures that produces value for all shareholders.”

At 1353 GMT, shares in Lekoil were up 12.86% at 1.98p.