Cemex names CFO as CEO to replace Zambrano

Cemex (CX) has opted for continuity and named CFO Fernando Gonzalez as CEO to replace the legendary Lorenzo Zambrano, who died on Monday at the age of 70.

The Mexican cement giant has also appointed Zambrano's cousin, Rogelio Zambrano, as Chairman.

"Cemex has a management team with sufficient talent to give continuity to the company's operations," brokerage house Actinver said in a note this week.

Gonzalez joined Cemex 1989 and has managed its operations in Asia, Africa, South America, the Caribbean and the Middle East. Rogelio Zambrano became a director in 1987.

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