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Corporate Governance REPORT OF THE DIRECTORS principal risks of the Company’s business. Much of this work is delegated to the Audit, Compliance and Risk Management Committee. 4. It implements effective succession planning at Board and executive management level and assesses the processes in place to ensure that there is appropriate succession planning amongst senior management. Much of this responsibility is delegated to the Remuneration and Governance Committee. 5. It develops and implements Board and governance policies in line with regulatory requirements and international best practice. Much of this responsibility is delegated to the Remuneration and Governance Committee. 6. It ensures that the technical and operational aspects of the business are conducted efficiently and with regard to global best practices. It assesses the feasibility of proposed new projects and ensures that the operational, technical, production, sustainability and staffing aspects of our plants are adequate, comply with local and international laws and are aligned with our business goals. It is also responsible for overseeing new technical and development programs within the business. Many of these responsibilities are delegated to the Technical and Operations Committee. Legal form Dangote Cement Plc was previously named Obajana Cement Plc and was incorporated in Nigeria as a Public Limited Company on 4th November 1992, and commenced operations in January 2007. The name of the Company was changed from Obajana Cement Plc to Dangote Cement Plc by virtue of a special resolution dated 14th July, 2010. The shares of Dangote Cement were listed on the Nigerian Stock Exchange (“the Exchange”) on October 26, 2010 and since then it has always been the largest company traded on the Exchange. Principal activities and future plans The Company was established for the operation of factories used for the preparation, manufacture, control, research, sale and distribution of cement and related products. The production activities of the Company are undertaken at various plants located at Obajana in Kogi State, Gboko in Benue State and Ibese in Ogun State, all in Nigeria. The Company has expanded into other countries in Africa and has a number of subsidiaries engaged in the same activities. Information on these subsidiaries is on pages 22 to 23. Details of future plans are contained in the Chairman’s Statement on pages 8 to 11 and the Operational Review on pages 52 to 69. Business Review and results The Business Review comprises of the following, each of which are incorporated by reference into, and forms part of this Directors’ Report: • The Chairman’s Statement on pages 8 to 11 • The Interview with the Group Chief Executive Officer on pages 52 to 55 • The Review of the Business in 2016 on pages 56 to 62 • The Group Chief Financial Officer’s Report on pages 64 to 67 • The report on Our Approach to Sustainability on pages 41 to 49 • The Corporate Governance Report on pages 72 to 83 • The Audit, Compliance and Risk Management Committee Report on pages 98 to 110 • The Finance and General Purpose Committee Report on pages 111 to 114 • The Technical and Operations Committee Report on pages 115 to 117 • The Nominations Committee Report on pages 118 to 119 • The Remuneration and Governance Committee Report on pages 120 to 128 These sections also include details of expected future developments in the Company’s business and details of the key performance indicators Annual Report 2016 93

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