CEMEX announce death of chairman and CEO

Company mourns the passing of Lorenzo H. Zambrano, who died in Spain on Monday

CEMEX have announced that Lorenzo H. Zambrano, chairman of the board of directors and chief executive officer of CEMEX, passed away yesterday, aged 70, in the city of Madrid, Spain.

Mr Zambrano (pictured) joined CEMEX in 1968 and held several positions in the company prior to his appointment as director of operations in 1981. A member of CEMEX’s board of directors since 1979, in 1985 he was appointed as chief executive officer and in 1995 he was elected chairman of the board of directors.

In addition, Mr Zambrano was a member of the board of directors of Cementos Chihuahua, IBM, Enseñanza e Investigación Superior, A.C. and Museo de Arte Contemporáneo de Monterrey A.C. (MARCO).

He also participated in the chairman’s council of Daimler Chrysler AG until July 2005 and was a member of the Stanford University’s Graduate School of Business Advisory Council until 2006, and was on the boards of directors of Vitro, S.A.B. de C.V. until 2007, Alfa, S.A.B. de C.V. until 2008, and Grupo Televisa, S.A.B. and Banamex until April 2009.

Mr Zambrano was also on the board of directors of Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) and on the international advisory board of Citigroup until 2011, and served as chairman of the board of directors of Enseñanza e Investigación Superior, A.C. until February 2012.

In recognition of his business and philanthropic record, Mr Zambrano received several awards and recognitions, including the Woodrow Wilson Center’s Woodrow Wilson Award for Corporate Citizenship, the America’s Society Gold Medal Distinguished Service Award, and Stanford University’s Graduate School of Business Alumni Association’s Ernest C. Arbuckle Award.

Following Mr Zambrano's death, CEMEX say operation and management of the company will continue as usual, with the board of directors expected to meet over the coming days to make the necessary corporate decisions.