Cemex directors name Zambrano successors

Sources: Cemex S.A.B. de C.V., Monterrey, Mexico; CP staff

The Cemex Board unanimously appointed Rogelio Zambrano chairman and Feranando Gonzalez chief executive officer four days after the death of Lorenzo H. Zambrano, 70, who held the titles, respectively, since 1995 and 1985.

A University of Pennsylvania Wharton School of Business graduate, the new chairman has been a Cemex director since 1987 and Finance Committee president since 2009. “We will stay focused on creating value for all our stakeholders. Our new CEO and the whole of Cemex’s Executive Committee have the vision, skills, and experience to do exactly that, and I am very optimistic about [our] future,” Zambrano says, noting that his cousin’s legacy “will endure and his vision and passion for excellence will continue to inspire us in the years to come.”

“I firmly believe we have the best people in the industry, who can ensure our continuing success,” adds Gonzalez, who was previously executive vice president of Finance and Administration, following senior management positions in Human Capital, Strategic Planning and Business Development. “We have a solid business strategy, and most importantly, provide the best building solutions and value-added products. Furthermore, we are encouraged by the positive outlook and improving business environment in the markets where we operate.”

The appointments secure a succession plan Cemex indicated on May 12, the day after Lorenzo Zambrano’s sudden passing in Madrid. During nearly three decades at the helm, he guided acquisitions transforming Cemex from a company with strong cement and concrete positions in the limited Mexico market to a global player in the league of European elites Heidelberg Cement, Holcim Ltd. and Lafarge Group. Chief among deals that made Cemex a construction materials brand in the U.S. and many overseas markets were Southdown Inc. (2000), RMC Industries (2004) and Rinker Group (2007). Key to those and smaller transactions was the confidence Zambrano gained from New York and Mexico City investors.