Dangote Cement pulls in heavyweights to boost its board
The company has appointed former Xstrata CEO Mick Davis and Cherie Blair, a lawyer and the wife of former UK prime minister Tony Blair, to its board
Dangote Cement appointed former Xstrata CEO Mick Davis as a non-executive director alongside Cherie Blair, a lawyer and the wife of former UK prime minister Tony Blair, as Nigeria’s largest company looks to strengthen its board. The company, owned by Africa’s richest man, Aliko Dangote, also named Joseph Makoju as permanent CEO after a four-month stint in an acting capacity, according to two e-mailed statements on Monday. While the continent’s biggest cement producer did not give a reason for the high-profile non-executive director appointments, people familiar with the matter said in February that Dangote had revived plans for a share sale in London that could raise about $1bn. Discussions were ongoing and a listing might or might not go ahead, they said. Makoju’s appointment "points to a good direction for succession planning and corporate governance", Olalekan Olabode, equity analyst at Vetiva Capital Management, said by phone from Lagos. The appointment of Cherie Blair "is a way...
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