Cemex announced today that its board of directors has unanimously appointed Rogelio Zambrano as chairman of the board of directors and Fernando A Gonzalez as CEO, effective immediately.

The move follows the sudden death on Monday of Lorenzo Zambrano who had led the Monterrey, Mexico-based Cemex for almost three decades.

Mr Rogelio Zambrano previously served as a member of the Board of Directors, and Fernando A Gonzalez previously held the position of Executive Vice President of Finance (CFO) and Administration.

Mr Rogelio Zambrano, cousin of Lorenzo Zambrano, has been a member of Cemex’s Board of Directors since 1987 and President of Cemex’s 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. He is a graduate in Industrial Engineering from the Tecnologico de Monterrey and holds an MBA from The Wharton School of Business, University of Pennsylvania.

“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.”

Fernando A Gonzalez joined Cemex in 1989, and since, he has held several senior management positions in Human Capital, Strategic Planning and Business Development, and served as CFO. He has led Cemex's business in Latin America, Europe, Africa, Middle East, and Asia. He earned his BA and MBA from Tecnologico de Monterrey.

“It is a great honor and responsibility to take the lead of Cemex. I firmly believe we have the best people in the industry, who can insure our continuing success,” stated Mr Gonzalez. 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.”

The board also decided to appoint Ian C Armstrong to become a member of the board. Such appointment is subject to be ratified by the next Annual General Meeting, to be held in 2015. Nevertheless, this appointment is effective immediately.

Mr Armstrong is Vice President of Promotion and Analysis at Evercore Casa de Bolsa. He is also a member of the Board of Directors of Tec Salud, Fondo Zambrano Hellion, and Patronato DIF Nuevo Leon. He is a graduate in Business Administration from Tecnologico de Monterrey and holds an MBA from IE Business School.