Dangote Cement has announced that its founder and majority shareholder, Aliko Dangote, has retired from his position as Chairman of the Board.

The company’s Group Chief, Branding and Communications Officer, Anthony Chiejina, confirmed the development in a statement issued on Friday.

According to Chiejina, Dangote stepped down from the position to devote more attention to the Dangote Petroleum Refinery.

Following his retirement, the Board appointed Emmanuel Ikazoboh, an independent non-executive director, as the new chairman.