About Us - Press Release - CEMEX announces senior level organizational changes
April 11, 2011
CEMEX, S.A.B. de C.V. (NYSE: CX), announced today changes to its senior level organization, effective April 12, 2011.
CEMEX’s operations, now organized in six regions will be led by the following executives, all of whom have served previously in various senior level operating positions within the Company:
- Juan Romero, President of CEMEX Mexico, who will also oversee Global Technology;
- Karl Watson, Jr., President of CEMEX USA;
- Jaime Elizondo, President of CEMEX South America and Caribbean, who will also oversee Global Procurement;
- Ignacio Madridejos, President of CEMEX Northern Europe, who will also oversee Global Energy and Sustainability;
- Jaime Muguiro, President of CEMEX Mediterranean;
- Joaquin Estrada, President of CEMEX Asia, who will also oversee Global Trading.
Additionally, CEMEX has appointed the following executives to lead the company’s corporate staff functions:
- Fernando A. Gonzalez, Executive Vice President of Finance and Administration, who will also directly assume the role of Chief Financial Officer;
- Juan Pablo San Agustin, Executive Vice President for Strategic Planning and Business Development; and
- Luis Hernandez, Executive Vice President for Organization and Human Resources.
These nine executives will report directly to CEMEX’s Chairman and CEO, Lorenzo H. Zambrano and comprise the Company’s ten member Executive Committee.
CEMEX’s Global Internal Audit group will report directly to the CEMEX Board Audit Committee.
“We have worked hard and successfully to put behind us the challenges that resulted from the downturn in the global materials industry.” said Mr. Zambrano, “Now we need to move rapidly to create value for all our stakeholders. This new executive team has the leadership skills, the vision and the experience to do exactly that, and I am extremely optimistic about CEMEX’s future.”
In addition, two long serving executives are leaving their current operating functions, and will continue to work for the Company in other roles. Francisco Garza, current President for CEMEX Americas, will now serve as Vice Chairman of the Board of CEMEX Mexico, Chairman of the newly created CEMEX Latin America Advisory Board, and will continue supporting CEMEX’s high-level Public Affairs activities both in Mexico and in Latin America. Víctor Romo, current Executive Vice President of Administration, will continue to participate in the Company as Advisor to the Chairman and coordinate Board Committees, as well as support other strategic initiatives.
“Both Francisco and Victor have made enormous contributions to CEMEX over many years, and I am confident they will continue to do so in their new roles,” said Mr. Zambrano.
CEMEX is a global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy, and various other factors. CEMEX assumes no obligation to update or correct the information contained in this press release.