CEMEX to Strengthen Geographic Diversification Through New Regional Organization
October 8, 1998
CEMEX S.A. de C.V. (CMXBY:OTC) announced today the regrouping of its current operations into three distinct Regions, consistent with its strategy of geographic diversification and growth, and to more closely support and manage its worldwide business.
The current two areas of CEMEX Mexico and CEMEX International will now be rearranged into the North America, the South America & Caribbean, and the Europe & Asia Regions.
The three newly created Regions will be headed by the following executives.
Francisco Garza, currently President of CEMEX Mexico & USA, will be appointed President of the North America Region and will also assume responsibility for the Company´s overall Trading Operations. Victor Romo, President of CEMEX Venezuela, will be President of the South America & Caribbean Region. The Europe & Asia Region will be headed by José Luis Sáenz de Miera, current President of CEMEX Spain.
All three positions, effective October 15, 1998, will report directly to the company´s Chairman and CEO, Mr. Lorenzo H. Zambrano.
After a distinguished thirteen-year career and having played a significant role in CEMEX´s transformation from a regional company into one of the three largest cement producers in the world, Mr. José Domene, current President of CEMEX International, has decided to resign from the company to pursue other personal and professional interests.
Mr. Domene will remain with the company as long as necessary to insure a smooth and uneventful transition to the new Regional Structure.
The Senior Executive Management positions occupied by Héctor Medina, Executive Vice President of Planning and Finance; Armando J. García Segovia, Executive Vice President of Development; and Mario de la Garza, Vice President of Administration, will continue to report directly to Mr. Zambrano.