Jan 8 (Reuters) - Shareholders in Nigerian oil company Lekoil on Friday approved top investor Metallon’s proposed board appointments at an extraordinary general meeting, the culmination of a public spat between Lekoil’s founder and the activist shareholder.
Metallon CEO Thomas Richardson, along with two other appointees, were approved to join the Lekoil board by a large majority of shareholders voting at the meeting, bringing the number of board members up to seven.
Lekoil’s Chairman Mark Simmonds said he would stand down with immediate effect, with a new chairman to be appointed by the enlarged board.
Lekoil had called on shareholders not to approve the board picks, saying that Metallon was trying to mount a takeover bid. (Reporting by Helen Reid. Editing by Jane Merriman)
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January 08, 2021 at 07:53PM
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Lekoil shareholders vote in favour of top investor's board picks - Reuters
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