Okitipupa Oil Palm focuses on re-engineering programme — Chairman

Mr. Akinboye Oyewumi, Chairman of the Board of Directors of Okitipupa Oil Palm (OOP Plc), emphasized the board’s commitment to completing its re-engineering program, including plantation development, recapitalization, and stakeholder engagement. He clarified that ethnic politics has no place in the company’s management and refuted calls for the removal of Managing Director Mr. Taiwo Adewole, stating Adewole’s employment status as independent of the Ondo State Government. Oyewumi affirmed that the company operates under corporate governance codes, regulations, and shareholder resolutions, with executive management responsible for day-to-day operations under the board’s supervision. Additionally, he expressed confidence in the achievements of the company under the current board and executive management led by Mr. Adewole. Source: Vanguard

Our Review:
Mr. Oyewumi’s statement underscores OOP Plc’s commitment to transparent and effective corporate governance, emphasizing adherence to regulatory frameworks and shareholder resolutions. By addressing concerns regarding the management structure and Mr. Adewole’s status, the statement reaffirms the board’s oversight role and commitment to professionalism. It also signals confidence in the current leadership’s ability to steer the company towards its objectives. However, ongoing stakeholder engagement and effective communication will be essential to maintaining trust and ensuring alignment with the company’s strategic direction.