Africa’s richest man and president/chief executive of Dangote Industries Limited, Aliko Dangote, has stepped down as chairman of the board of directors of Dangote Cement Plc.
The development was confirmed on Friday, that the billionaire industrialist’s resignation is part of a broader succession and governance strategy within the Dangote Group.
Following his exit, the board has appointed Emmanuel Ikazoboh, who previously served as an independent non-executive director, as the new chairman.
Mr Ikazoboh brings over four decades of experience in high-level executive roles across Nigeria, Côte d’Ivoire, Cameroon and South Africa.
As an accountant, he began his career at Akintola Williams Deloitte and rose through the ranks to become managing partner of the firm’s West and Central African operations.
He also previously served as group chairman of Ecobank Transnational Inc., one of Africa’s leading pan-African banking institutions.
The move comes just over a month after Mr Dangote retired as chairman of the board of Dangote Sugar Refinery Plc, a role he held for over 20 years.
At the time, the company stated the decision was “in line with the principles of good corporate governance and succession planning.”
Dangote, 67, remains the group president and chief executive officer of Dangote Industries Limited, the conglomerate that oversees the cement, sugar, salt and recently launched petroleum refinery businesses under his leadership.
Dangote Cement is one of Africa’s largest cement producers, with operations in 10 countries and a market presence that spans the continent.
Aliko Dangote had chaired the board since the company’s listing on the Nigerian exchange and played a pivotal role in its expansion into multiple African markets.