Dangote Sugar Refinery Plc (DSR) has announced that its Chairman, Alhaji Aliko Dangote, will retire from the Board with effect from 16 June.
The announcement, made via a corporate disclosure to the Nigerian Exchange Ltd., stated that the decision is in line with best practices in corporate governance and succession planning.
The statement reads: “Alhaji Aliko Dangote is one of the founding Directors of the Company and has provided outstanding leadership, integrity, and vision since 2005.
“Under his stewardship, Dangote Sugar Refinery has undergone significant transformation, navigated key industry developments, consistently delivered value to shareholders, and upheld a strong commitment to good governance.
“His long-term vision is reflected in the company’s extensive Backward Integration Projects across Adamawa, Taraba, and Nasarawa States.
“He also played a pivotal role in shaping the company’s strategic direction and culture, thereby establishing a solid foundation for continued growth.”
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To ensure a smooth transition, the Board has also announced the appointment of Mr Arnold Ekpe, currently serving as an Independent Non-Executive Director, as the incoming Chairman with effect from 16 June.
Mr Ekpe brings with him a wealth of experience, having held senior leadership positions across the banking sector and other key industries.
“His strategic insight, deep understanding of corporate governance, and dedication to stakeholder value make him well-suited to lead the Board as we continue to build on our achievements and pursue sustainable growth,” the statement added.
