Dangote Sugar Refinery Plc (DSR) has announced that its Chairman, Aliko Dangote, will retire from the Board effective June 16.
The company recently revealed that the decision aligns with principles of good corporate governance and succession planning.
Speaking via a corporate disclosure to the Nigerian Exchange Ltd., Dangote Sugar Refinery Plc said that Dangote has served the company with brilliant leadership and commendable vision since 2005.
DSR disclosed that under Aliko’s reign, the company overcame several industry hurdles, delivered consistent shareholder value, and continually focused on good governance.
According to the company, Dangote played a crucial role in shaping its culture, and he’ll only be exiting his position after guaranteeing a solid foundation for sustained development.
“Alhaji Aliko Dangote is one of the founding Directors of the Company, and has served with exceptional leadership, integrity, and vision since 2005.
Under his leadership, Dangote Sugar Refinery transformed, navigated significant industry developments, delivered consistent shareholders value, and maintained a strong focus on good governance. His long-term growth is evident by its extensive Backward Integration Projects in Adamawa, Taraba and Nasarawa states.
He also played an instrumental role in shaping the company’s strategy and culture, thereby building a robust foundation for growth and sustenance,” it read.
To guarantee a smooth transition, the board announced the appointment of Mr Arnold Ekpe, presently an independent non-executive director, as the incoming Chairman effective June 16.
Mr Arnold is coming in with a wealth of experience, having held senior leadership roles in the banking sector and other key industries.
“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,” it added.
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