Cemex CEO passes away

• Cemex (NYSE:CX) CEO Lorenzo Zambrano has unexpectedly died whilst on a business trip to Spain.
• After becoming CEO in 1985, Zambrano set about turning Cemex into Mexico's first multinational company with a series of multi-billion dollar acquisitions.
• However, Cemex's $16B purchase of building-materials company Rinker in 2007 saddled the Mexican firm with huge debts just as the U.S. housing market was starting to slump. Cemex is still paying off those loans.