Temitope Hassan, the company secretary, said in a Wednesday statement Dangote, one of the founding directors, has been serving with "exceptional leadership, integrity, and vision" since 2005.
"Under his leadership, Dangote Sugar Refinery Plc. transformed, navigated significant industry developments, delivered consistent shareholder value, and maintained a strong focus on good governance, and long-term development shown by its extensive Backward Integration Projects in Adamawa, Taraba and Nasarawa State," Hassan said.
"He also greatly helped to shape the Company's strategy and culture, so laying a strong basis for development and survival."
After Dangote retired, she stated the board had chosen Arnold Ekpe, an independent non-executive director, to take over as new chairman from June 16.
Having held significant leadership responsibilities in the banking industry and other important sectors, Mr. Ekpe brings with him a great deal of expertise.
"His strategic sense, thorough awareness of corporate governance, and dedication to shareholder value equip him to head the Board as we keep expanding on our solid basis and toward sustainable development.
We welcome Mr. Ekpe to his new position and eagerly await the next chapter in the travel of our company under his direction.
“We also express our deep appreciation to Alhaji Aliko Dangote for his years of exemplary service and unwavering commitment to excellence.”
Maryam Bashir, Konyinsola AJAYI, will step down as board directors
In another comment, Hassan stated the board has also informed the investing public and Nigerian Exchange Limited (NGX) of the retirement of Maryam Bashir and Konyinsola Ajayi from the board, effective June 16.
“Both Directors will retire from the Board effective 16th June, 2025 having diligently served the Company with integrity, professionalism, and commitment to the growth of the Company and its corporate governance throughout their tenure,” the company secretary stated.
Ms. Maryam Bashir is a strong achiever with comprehensive expertise in finance and investments with specific emphasis on strategy, company growth and bottom-line improvement.
“She was for a period 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, SAN is a legal luminary and trusted Advisor in the fields of Energy & Natural Resources, Infrastructure & Power, Banking & Capital Markets, Privatization, Project Finance, Litigation and Arbitration. He was for a while the Chairman of the Board Governance Committee and has throughout the years offered counsel to the Board on key transactions.”
Hassan said that the board expressed heartfelt thanks to both directors for their contributions to the company’s development and wished them luck in their future undertakings.