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Organizational changes at CEMEX

Company announces senior level organizational changes and appoints a new executive team

CEMEX have announced a number of changes to their senior level organization, which became effective on 12 April 2011. The company’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 CEMEX:

  1. Juan Romero, president of CEMEX Mexico, who will also oversee global technology;
  2. Karl Watson Jr., president of CEMEX USA;
  3. Jaime Elizondo, president of CEMEX South America and Caribbean, who will also oversee global procurement;
  4. Ignacio Madridejos, president of CEMEX Northern Europe, who will also oversee global energy and sustainability;
  5. Jaime Muguiro, president of CEMEX Mediterranean; and
  6. Joaquin Estrada, president of CEMEX Asia, who will also oversee global trading.

In addition, CEMEX have 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.

All nine executives will report directly to CEMEX’s chairman and chief executive officer, Lorenzo H. Zambrano, and together with him will comprise the company’s 10-member Executive 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 but 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 to support 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 act as advisor to the chairman and will co-ordinate board committees as well as supporting other strategic initiatives.

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