Aliko Dangote to retire as Dangote Sugar chair

Dangote Sugar Refinery Plc said its chairman, Aliko Dangote, will retire from the board on 16 June after nearly 20 years in the role.

Two non-executive directors, Maryam Bashir and Konyinsola Ajayi, a professor, will also step down on the same day.

The company made the announcements in separate filings to the Nigerian Stock Exchange, signed by its company secretary, Temitope Hassan, on Wednesday.

The company described the changes as part of planned board transition in line with corporate governance principles.

Dangote, a founding director, has led the board since 2005. During his tenure, the company pursued major expansion through its backward integration projects and remained one of Nigeria’s largest sugar producers.

“The Board expresses its deep appreciation to Alhaji Aliko Dangote for his years of exemplary service and unwavering commitment to excellence,” the company said.

Arnold Ekpe, an independent non-executive director, will take over as chairman. Mr Ekpe previously served as chief executive at Ecobank and United Bank for Africa. Dangote Sugar said he brings “strategic acumen” and experience in governance and stakeholder engagement.

Mr Bashir, who chaired the board’s risk committee and represented the board on the audit committee, was credited with contributions to the company’s strategy and internal controls. Mr Ajayi led the governance committee and provided legal guidance on major transactions.

The board thanked both directors for their service and commitment to the company’s growth.

Dangote Sugar is part of the Dangote Group and operates large-scale refining and farming operations in several Nigerian states.

Source: Premium Times