Cemex Announces New Latam Management

Cemex announced on Oct. 5 new management appointments for its Latam subsidiary. The company named Jaime Muguiro, who’s been with Cemex for about 20 years, as CEO; Juan Pablo San Agustin as Cemex Latam chairman of the board; and Ricardo Naya as the director of Cemex Colombia.

Last month, Cemex stated that after an internal probe found payments of about $20 million were made to a non-government individual for land and mining rights related to a cement plant being built in in Maceo, Colombia, it immediately terminated the vice president for planning and the general attorney for its Latin American and Colombian units.

Additionally, Carlos Jacks, chief executive of Cemex Latam and director of Cemex Colombia, resigned to “facilitate investigations.”

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