In what it says is in line with the principles of good corporate governance and succession planning, the board of Dangote Sugar Refinery Plc, on Wednesday announced the retirement of its founder and chairman, Alhaji Aliko Dangote with effect from June 16, 2025.
Following what it called a rigorous selection and transition process, the board announced the appointment of former Managing Director/Chief Executive of the United Bank for Africa and Ecobank Transnational Incorporated (ETI), Arnold Ekpe successively, an Independent Non-Executive Director to replace Dangote as new Chairman of the company also from June 16.
According to the notice by Mrs. Temitope Hassan, Company Secretary/Legal Adviser, under Dangote’s exceptional leadership, integrity, and vision since 2005,” the company has “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.
“He also played an instrumental role in shaping the Company’s strategy and culture thereby building a robust foundation for growth and sustenance,” it added.
In another notification, the company equally announced the retirement of two Non-Executive Directors- Ms. Maryam Bashir and Prof. Konyinsola Ajayi SAN, from its board from June 16, 2025 having diligently served the company with integrity, professionalism, and commitment to its growth.
Ekpe, the company said, “brings with him 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.
While welcoming him to the board as the company opens a new chapter in its corporate journey, the statement expressed deep appreciation to “Alhaji Aliko Dangote for his years of exemplary service and unwavering commitment to excellence.”
Ms. Bashir, the statement continued, has broad experience in finance and investments with particular focus on strategy, business development and bottom-line enhancement, serving at some point 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, legal luminary is 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.
