Sergio Mauricio Menendez Medina, current president for CEMEX in Europe, has been appointed president for CEMEX Europe, Middle East, Africa & Asia (EMEAA). Medina will oversee the business in The Philippines, Israel, Egypt and United Arab Emirates, in addition to his current responsibilities.
"I would like to thank our current president of our Asia, Middle East and Africa region, Joaquin Estrada, for his contribution and commitment to CEMEX during his 29 years of service in the company, and wish him success in his new endeavors.” said Fernando A. González, CEO of CEMEX.
Jesus Vicente Gonzalez Herrera, current president for CEMEX in South, Central America and the Caribbean (SCAC), will also oversee CEMEX’s global trading activities, in addition to his current responsibilities.
The senior management changes at CEMEX come after a period when the group has been very much in the industry news headlines.
Last month, CEMEX launched a new Climate Action strategy, which outlines its vision to advance towards a carbon-neutral economy and to address society's increasing demands more efficiently.
CEMEX says it has reduced its net specific CO2 emissions by more than 22% compared to its 1990 baseline. However, the group has defined a more ambitious target of a 35% reduction of net specific CO2 emissions by 2030. This new goal is aligned with the Science-Based Targets methodology, a requirement climate science says is necessary to meet the goals of the Paris Agreement.
To complement this strategy with a longer-term vision, CEMEX is also establishing a new ambition to deliver net-zero CO2 concrete by 2050.
CEMEX also recently posted flat consolidated net sales for both Q4 and full-year 2019, with CEO Gonzalez describing 2019 as a "very challenging year". The group's year-on-year consolidated net sales stood at US$3.3bn in Q4 2019 and decreased 1% for the full-year 2019 to $13.1bn.
