May 2015 Financial News

Trinidad Cement Appoints New CEO With Eye On Market Growth

May 18, 2015

Trinidad Cement Limited has tapped another Cemex executive as its new CEO. Jose Luis Seijo, who says TCL will be investing in its plant and people to add value and grow capacity.

Seijo, who was named head of TCL group on May 4, was previously Cemex’s regional head of strategic and financial planning for Spain and the Mediterranean. His other job assignments have included Mexico - corporate strategic planning; Israel - chief financial officer; Bangladesh - chief executive officer; and Latvia, - chief executive officer, said TCL on Monday.

Seijo’s appointment relieves another Cemex executive and TCL board member, Alejandro Ramirez Cantu, of his acting role as head of the Trinidad operation. Ramirez was tapped as interim head last August following the forced departure of Dr Rollin Bertrand who was let go after a takeover of the TCL board by minority shareholders.

“With TCL’s financial restructuring near completion, Mr Seijo’s focus will be on value creation for the company and its stakeholders,” TCL said in a statement.

Seijo in turn said he would focus on increasing capacity and market growth. “The TCL Group has huge potential,” he said. “My immediate job is to tap into all our resources – essentially to mobilise the skills of our workforce against a backdrop of improved operational efficiencies and prudent investments to ensure a sustainable future.”

Seijo was educated at the University of Bath in the United Kingdom, with a background in mechanical engineering and finance.

Cemex is the largest owner of TCL group with 39.5 per cent holdings, through subsidiary Sierra Trading, a near doubling of its stake since March of this year.

Source:
business@gleanerjm.com
Jamaica Gleaner
Monday May 18, 2015

http://jamaica-gleaner.com/article/business/20150518/trinidad-cement-appoints-new-ceo-eye-market-growth