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Mexico's Cemex taps insiders to lead the company

Friday, May 16, 2014

Mexico's Cemex, one of the world's leading cement makers, on Thursday promoted Chief Financial Officer Fernando Gonzalez to chief executive, signaling continuity after the sudden death of Lorenzo Zambrano earlier this week.

Rogelio Zambrano Lozano, 57, board member since 1987 and a cousin of the late CEO, will take over as chairman of the board, Cemex added.

Questions had swirled this week after Lorenzo Zambrano, who ran the company for three decades, died of natural causes at age 70 in Madrid on Monday, leaving no public succession plan.

Source: Reuters