Billionaire businessman, Alhaji Aliko Dangote, has retired as Chairman of the board of directors of the Dangote Sugar Refinery Plc, from June 16.
Breaking the news in a statement on Wednesday, Company Secretary, Temitope Hassan, said Dangote, was one of the founding directors and had served with “exceptional leadership, integrity, and vision” since 2005.
“Under his leadership, Dangote Sugar Refinery Plc. transformed, navigated significant industry developments, delivered consistent shareholder value, and maintained a strong focus on good governance, and long-term growth evidenced by its extensive Backward Integration Projects in Adamawa, Taraba and Nasarawa State,” Hassan said.
“He also played an instrumental role in shaping the Company’s strategy and culture thereby building a robust foundation for growth and sustenance.”
Following Dangote’s retirement, she said the board has appointed Arnold Ekpe, an Independent Non-Executive Director, as the new Chairman, effective June 16.
“Mr. Ekpe brings with him a wealth of experience, having held senior leadership roles in the banking sector and other key industries,” the statement said.
“His strategic acumen, deep understanding of corporate governance, and commitment to stakeholder value make him well-positioned to lead the Board as we continue to build on our strong foundations and pursue sustainable growth.
“We welcome Mr. Ekpe to his new role and look forward to the next chapter in our Company’s journey under his leadership.
“We also express our deep appreciation to Alhaji Aliko Dangote for his years of exemplary service and unwavering commitment to excellence.”
In another statement, Hassan said the board has also notified the Nigerian Exchange Limited (NGX) and the investing public of the retirement of Maryam Bashir and Konyinsola Ajayi from the board, effective June 16.
“Both Directors will retire from the Board effective 16th June, 2025 having diligently served the Company with integrity, professionalism, and commitment to the growth of the Company and its corporate governance throughout their tenure,” the company secretary said.
Ms. Maryam Bashir is a strong achiever with broad experience in finance and investments with particular focus on strategy, business development and bottom-line enhancement.
“She was for a period the Chairperson of the Board Risk Management & Assurance Committee and the Board’s representative on the Statutory Audit Committee and has contributed immensely to the expansion of the Backward Integration Projects.
“Prof. Konyinsola Ajayi, SAN is a legal luminary and trusted Advisor in the fields of Energy & Natural Resources, Infrastructure & Power, Banking & Capital Markets, Privatization, Project Finance, Litigation and Arbitration. He was for a period the Chairman of the Board Governance Committee and has over the years provided guidance to the Board on major transactions.”
