Managing Director of Niger Delta Exploration and Production (NDEP) Plc, Mr. Layi Fatona, has started to relinquish the functions of his position as Managing Director and Chief Executive Officer of the company, Vanguard reports.

The process is the first of several phases of the company’s “Executive leadership succession and implementation programme.” According to Africa Oil and Gas Report, Fatona has held the reins of NDEP for 25 years.

Already, Mr. Ladi Jadesimi, Chairman of the Board of NDEP, has announced to the company’s staff, the appointment of Oloruntoba Johnson Akinmoladun as the new Chief Operating Officer (COO) and MD Designate.