The board of the Uganda National Oil Company is ready to see Eng Dr Josephine Wapakhabulo, the chief executive officer, leave after her shock resignation earlier this week.
In a press statement from Unoc, the second in less than 24 hours, Emmanuel Katongole, the board chairman, said his team “will meet to review and define the way forward post August 13, 2019,” the last day that Wapakhabulo will serve as CEO.
Wapakhabulo’s resignation appears to have taken a larger part of the market by surprise, with the company issuing a statement calling for calm after the resignation letter leaked on social media. Wapakhabulo said she would leave Unoc in August to “focus on my family and new opportunities” three years after she was appointed to the position.
Wapakhabulo’s resignation comes at a time Unoc is preparing to go into oil exploration after entering into a partnership with China’s Cnooc. Unoc is also expected to take over the management of Buloba fuel reserves, among other commercial interests in the oil and gas industry.
As an assurance to the public, Unoc’s board said the company had “a well-structured succession planning strategy that assures it of continuity of business and growth.”