LUMBERYARDS

After Zambrano’s passing, Cemex has new leadership

BY HBSDEALER Staff

Cemex has announced two successors to the late Lorenzo Zambrano’s title as chairman and CEO of the company.

The board has unanimously appointed director Rogelio Zambrano as chairman and former EVP finance and administration Fernando Gonzalez as CEO, effective immediately.

The move came swiftly after the passing of longtime chairman and CEO Lorenzo Zambrano, who died unexpectedly on Monday during a business trip in Madrid.

“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 Cemex’s future,” said Mr. Rogelio Zambrano. “Lorenzo Zambrano’s legacy will endure and his vision and passion for excellence will continue to inspire us in the years to come.”

Rogelio Zambrano has been a member of the company’s board of directors since 1987, as well as president of the Finance Committee since 2009. He is also a member of the Advisory Board of Grupo Financiero Banamex Zona Norte, and a member of the Boards of Directors of Carza and Tecnologico de Monterrey, among others.

Gonzalez has been with the company since 1989, holding various senior management roles since in human capital, strategic planning and business development. He has led Cemex’s business in Latin America, Europe, Africa, the Middle East and Asia. 

“It is a great honor and responsibility to take the lead of Cemex," said Gonzalez. "I firmly believe we have the best people in the industry, who can insure our continuing success. We have a solid business strategy, and most importantly, we provide the best building solutions and value-added products. Furthermore, we are encouraged by the positive outlook and the improving business environment in the markets where we operate.”

Ian Armstrong, VP promotion and analysis at Evercore Casa de Bolsa, has also been appointed as an additional member of the company’s board of directors, effective immediately.

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Wrigley Field paints with Benjamin Moore

BY HBSDEALER Staff

Benjamin Moore has partnered up with the Chicago Cubs to become the official paint of Wrigley Field.

First off? Temporarily restoring the Marquee’s 1930s green and gold color scheme in honor of the 100th anniversary season of Wrigley Field. 

"We are excited to work with the Chicago Cubs during their incredible transformation of Wrigley Field," said Dan Calkins, SVP sales at Benjamin Moore & Co. "This work will showcase a variety of Benjamin Moore premium products that will perfectly restore and elevate the beauty of the Friendly Confines, whose heritage and fan base are one of the most storied in baseball."

A ceremonial first brushstroke kicked off the project on Wednesday. The Marquee will later be painted back to its current red color, compliments of Benjamin Moore.

"It takes high-quality products and expertise to maintain a 100-year-old ballpark, which is why we’re excited to partner with Benjamin Moore as the official paint of the Chicago Cubs and Wrigley Field," said Cubs VP ballpark operations Carl Rice. "We’ll rely on Benjamin Moore’s paints to keep Wrigley Field looking its best during our centennial season and know they’ll be a tremendous asset for our future projects as well."

The organizations are offering the first 1,000 visitors the chance to win a limited-edition Chicago Cubs/Benjamin Moore tshirt, as well as contribute to painting a large baseball-themed mural. 

The deal makes good for a five-year partnership between Benjamin Moore and the Cubs.

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Comex suing Sherwin-Williams over botched deal

BY HBSDEALER Staff

Mexican paint company Consorcio Comex is reportedly suing Sherwin-Williams over the botched deal it terminated last month, alleging that the company had not demonstrated a sufficient effort to follow through on the terms of the deal.

Sherwin-Williams drafted the stock purchase agreement last September, which stipulated that either party may terminate the deal in the event that the closing of the acquisition did not occur on or prior to March 31, 2014. Mexico’s Federal Economic Competition Commission rejected the bid twice, claiming that the acquisition would create monopoly conditions in Mexico’s paint market.

Comex is asking the International Chamber of Commerce to arbitrate the dispute, but is not indicating how much it is seeking in damages.

The deal, initially announced in November 2012, came at a price tag of $2.34 billion.

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