Cemex Restructuring Expands ExecutivesÌ Universe

Effective May 15, Francisco Garza will take on his new position as president of Cemex Americas, a title that appears to expand upon the responsibilities and geographical scope of his previous title of president, North America region and trading

Source: Cemex S.A.B. de C.V., Monterrey, Mexico

Francisco Garza has been named president of Cemex Americas, a position expanding the responsibilities and geographical scope of his previous role as president, North America region and trading. His elevation is part of the management team restructuring Cemex announced earlier this month in an effort to bring fresh perspectives that will reinforce operational and financial performance.

Other executives transitioning to new or expanded posts are Armando Garcia, executive vice president, Technology, Energy & Sustainability (previously executive vice president of Development); Fernando Gonzalez, executive vice president, Planning & Development (president, South America and Caribbean Region); Hector Medina, executive vice president, Finance & Legal (executive vice president Planning & Finance); and, Juan Romero, president, Europe, Middle East, Africa, Asia & Australia (director of Mexico). Victor Romo remains executive vice president, Administration.

The reorganization comes on the heals of a late-April announcement that Cemex expects to realize an additional $200 million in operational cost savings, bringing the company’s projected total for such 2009 initiatives to $900 million.