Dangote Sugar Refinery Plc (DSR) has announced that its Chairman, Aliko Dangote, will retire from the board effective June 16.

The announcement, made through a corporate disclosure to the Nigerian Exchange Ltd, stated that the decision aligns with principles of good corporate governance and succession planning.

It read, “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 shareholder 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.”

To ensure a seamless transition, the board also announced the appointment of Arnold Ekpe, currently an independent non-executive director, as the incoming chairman effective June 16.

Mr Ekpe is to bring with him a wealth of experience, having held senior leadership roles in the banking sector and other key industries.

It added, “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.’’

(NAN)