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Cemex restructuring expands executives' universe.

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

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. His elevation is part of the management team restructuring Cemex announced earlier this month in an effort to "bring fresh perspectives that will reinforce our operational and financial performance," according to the company.

Among other executives transitioning to new or expanded posts:

*Armando J. Garcia, executive vice president, technology, energy & sustainability (previously executive vice president of development).

*Fernando A. Gonzalez, executive vice president, planning & development (president, South America and Caribbean region).

*Hector Medina, executive vice president, finance & legal (executive vice president planning and finance).

*Juan Romero, president, Europe, Middle East, Africa, Asia & Australia (director of Mexico).

* Victor M. Romo, executive vice president, administration (title unchanged).

The reorganization comes on the heals of a late-April announcement that Cemex expects to realize an additional US$200 million in cost savings from the company's ongoing effort to reduce costs and optimize its business, bringing the total expected savings from the company's cost-cutting initiatives to US$900 million. All measures will be fully implemented before the end of the year.

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Publication:Concrete Products (Online Exclusive)
Date:May 14, 2009
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