Shareholders have expressed approval of Aliko Dangote’s decision, as President of Dangote Industries Limited, to step down from two of his companies, viewing it as beneficial for corporate governance.
The billionaire businessman and Africa’s richest man has recently stepped down as chairman of two of his subsidiaries – Dangote Sugar PLC and Dangote Cement PLC – paving the way for new chairmen for these companies
Within a two-month period, this occurred – with him directly removing himself from the management of the two publicly listed companies. In June, Dangote Sugar announced that its Chairman was stepping down after 20 years of significant events. The alteration came into force on June 16, 2025.
The Sugar subsidiary, in a communication to the Nigerian Exchange, indicated that Dangote was instrumental in the company’s development, the reinforcement of its market leadership, and the provision of stable shareholder value.
Under Dangote’s leadership, the company undertook significant initiatives to enhance domestic sugar production, such as Backward Integration Projects in Adamawa, Taraba, and Nasarawa States. These efforts bolstered the company’s supply chain and played a role in its success.
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