The Chief Finance Officer, Lafarge Africa Plc, Mr. Bruno Bayet has resigned from his position as Mrs. Marie-Christiane Kaul-Meledje assumes the role of interim until a successor is appointed.
In a statement on the Nigerian Stock Exchange (NSE), signed by the General Counsel & company Secretary, Adewunmi Alode stated that the Company has initiated the process of finding a new Chief Finance Officer and will be considering internal and external candidates.
Also, the Chairman of the Board, Mr. Mobolaji Balogun, in his words said, “On behalf of the Board, I would like to thank Bruno for his personal commitment, dedication and the significant contributions he has made over his three years at Lafarge Africa Plc”.
Lafarge Africa recently concluded fully subscribed rights issue as well as the divestment from its South African operations.
In a statement issued in by the CEO, Lafarge Africa, Michel Pucheros, said that the construction industry in South Africa still remained subdued with net sales down 2.1 percent in Q2 2019 despite price increase.
He added that the rights issue and divestment will strengthen the company’s balance sheet and significantly reduce financing costs.
Pucheros noted that although net sales dropped marginally by 1.2 percent in H1, 2019 to N160.3 billion from N162.3 billion, continuous focus on cash cost reduction, which is an outlook for the 2019 financial year, will drive operational performance.