Dangote Cement has officially announced the retirement of its founder and majority shareholder, Aliko Dangote, from his position as Chairman of the Board, according to a statement released on Friday.
The company's Group Chief, Branding and Communications Officer, Anthony Chiejina, confirmed that Dangote's decision to step down was primarily to allow him to dedicate more attention to the operations of the Dangote Petroleum Refinery, his newest and most ambitious project.
Following this significant leadership transition, the Board has appointed Emmanuel Ikazoboh, who previously served as an independent non-executive director, as the new chairman of Dangote Cement.
This development marks a pivotal moment for one of Africa's largest cement manufacturers, which has played a crucial role in Nigeria's construction sector and infrastructure development over the years.
Dangote, widely recognized as Africa's richest man, has been gradually shifting his focus toward the petroleum sector, with his $19 billion refinery project representing one of the largest industrial investments on the continent in recent years.
The Dangote Petroleum Refinery, which began operations earlier this year, is expected to significantly reduce Nigeria's dependence on imported refined petroleum products and potentially transform the country from an importer to an exporter of refined products.
Industry analysts suggest this strategic move allows Dangote to concentrate on navigating the complex challenges of the petroleum sector while ensuring his cement business continues under experienced leadership.
The incoming chairman, Emmanuel Ikazoboh, brings substantial corporate governance experience to the role, having previously held executive positions in several major organizations.
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