Cemex SAB stayed close to home and took just three days to name its first new chief executive officer since 1985. Investors signaled their approval.
The board of Cemex SAB, the largest cement producer in the Americas, may decide this week on a new chief executive officer to replace the late Lorenzo Zambrano.
Cemex SAB , the biggest cement maker in the Americas after $29 billion in global acquisitions over two decades, is concerned that its efforts to cut debt will mean sitting out the next round of industry consolidation.
Cemex SAB, the largest cement maker in the Americas, is studying new bond offerings as it seeks to cut interest costs, extend debt maturities and win back its investment grade rating.
Cemex SAB shares rallied after executives said U.S. cement prices rose during the first quarter and predicted the Mexican government’s spending on infrastructure would grow in 2013.
Lorenzo Zambrano’s death at age 70 confronts Cemex SAB’s board with an unfamiliar challenge: picking a new chief executive officer.
Cemex SAB, the largest cement maker in the Americas, boosted U.S. sales to the highest level in more than three years, fueling share gains even as revenue fell in Mexico and Europe.
The European Central Bank will start requiring lenders to provide data on the loans in asset-backed securities used as collateral for funding by the end of this year.
"After considering our main objective, which is to continue delivering to the company and gaining back our investment grade as fast as possible, we have decided not to present any offer for any of the assets."
- Fernando Gonzalez on Oct 23, 2014