THE PAN-AFRICAN retailer Vivo Energy, a marketer of Shell and Engen-branded fuels and lubricants, has announced that Doug Lafferty has resigned as chief financial officer (CFO) of the company to take up the position of CFO at Aston Martin Lagonda Group Holdings.
According to Vivo Energy, which distributes and markets fuel and lubricants in 23 African countries, Lafferty will remain a director until he vacates the position in July. He will replace Ken Gregor at Aston Martin.
“Doug will remain focused on the delivery of the company’s full-year results, due on March 2, 2022, and ensuring the effective transition of his responsibilities,” the company said.
The search for a new CFO was under way and a further update would be announced in due course, Vivo Energy said. Vivo Energy chief executive Christian Chammas said: “Doug has made a big impact on our business, contributing significantly to the development of our strategy and helping drive the continued recovery following the impacts of Covid-19”.
“The board and I will be very sad to see him leave and wish him all the best for the future”. Lafferty said.
“I’m proud of how the recovery has continued and the strong performance of the company during my tenure. “I firmly believe that the strategy is right to provide long-term benefits to our customers, and our broader stakeholders, and in the significant long-term potential of Vivo Energy."
Last year, Vivo Energy delivered stellar results, and its performance was driven by the retail division, with accelerated site roll-out supporting the volume recovery.
In November, Vivo Energy announced that its chief executive Christian Chammas would retire in 2022, and Stanislas Mittelman was appointed as chief executive designate.
BUSINESS REPORT ONLINE