Mexico Cemex to meet this week on new leader after CEO's death

MONTERREY Wed May 14, 2014 8:32pm EDT

Employees hold a photograph of Lorenzo Zambrano at a building of Mexican cement giant Cemex in Monterrey May 13, 2014. REUTERS/Daniel Becerril

Employees hold a photograph of Lorenzo Zambrano at a building of Mexican cement giant Cemex in Monterrey May 13, 2014.

Credit: Reuters/Daniel Becerril

MONTERREY (Reuters) - The board of Mexico's Cemex (CMXCPO.MX) (CX.N), one of the world's leading cement makers, will meet this week to discuss management succession and direction after the sudden death of Chief Executive Officer Lorenzo Zambrano, a top company official said on Wednesday.

However the board will not necessarily decide at the meeting who will lead the company, Chief Financial Officer Fernando Gonzalez told reporters.

The company has remained mute on who would take the helm. Industry insiders and company watchers widely expect Cemex to choose a new leader or leaders from inside the company to ensure continuity of its management policies.

"In terms of succession, there are nine members of the leadership committee ... Any of them could continue with the job," Gonzalez said.

Shares in Cemex closed nearly 2 percent lower on Wednesday.

Potential candidates to lead Cemex include Gonzalez, Francisco Garza, chairman of Cemex's advisory board, and Cemex Mexico head Juan Romero Torres, industry insiders and analysts say.

(Reporting by Gabriela Lopez; Editing by Simon Gardner and Lisa Shumaker)

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