- Bamburi Cement PLC has appointed Mohit Kapoor as the brand new Group Chief Government Officer (CEO), efficient April 1, 2023, topic to regulatory approvals.
- {An electrical} engineer, marketer and provide chain skilled by career, Kapoor was the Nation CEO for Holcim Qatar previous to this appointment.
- Seddiq Hassani concludes his 5 yr tenure abandoning a steady and resilient model.
Bamburi Cement PLC has appointed Mohit Kapoor as the brand new Group Chief Government Officer (CEO), efficient April 1, 2023, topic to regulatory approvals amidst dwindling earnings.
Kapoor succeeds Seddiq Hassani, who has served as the corporate’s CEO since his appointment on February 9, 2018, and ends his five-year tenure on March 31, 2023.
{An electrical} engineer, marketer and provide chain skilled by career, Kapoor was the Nation CEO for Holcim Qatar previous to this appointment. He has additionally served because the Head of Development and Innovation at Holcim India, the Managing Director of Readymix Tasks, the Vice President of Logistics & Provide Chain at Lafarge India, and the Senior Challenge Supervisor for Lafarge Group Audit.
He joins the corporate on the coronary heart of its repositioning Technique 2025: “Accelerating Inexperienced Development” – that seeks to ship market management progress, innovation and sustainable constructing options, options and product enlargement, and superior efficiency.
Saying the transition, the Chair of the Board John Simba said: “We’re pleased to announce Mr. Kapoor as the brand new CEO of Bamburi Cement Plc. In an period of socioeconomic, environmental, and innovation disruptions, Mr. Kapoor’s in depth expertise with Lafarge and Holcim, in addition to his observe report of name constructing, innovation, and operational effectivity, have uniquely primed him to guide Bamburi Cement and the group into its subsequent section of progress.”
Throughout his tenure Hassani has been liable for strong operational and monetary performances, a company-wide folks and digital transformation and cement infrastructure and operations which are future-fit, environment friendly, and sustainable.
“Bamburi Cement noticed constant model worth within the area underneath Mr. Hassani’s management. He efficiently guided the model via essentially the most unprecedented challenges confronting the cement manufacturing industries, leading to sturdy efficiency following the pandemic disaster. We commend Mr. Hassani for his constant management, expertise, and worthwhile counsel to the Board of Administrators, and need him the perfect in his future endeavors,” stated the Chair.
As well as, the agency’s Board of Administrators has appointed two new Non-Government Administrators following the resignation of John Stull and Guillaume Dubreuil, efficient March 31, 2023. Rajesh Surana and Sonal Shrivastava will take over as Non-Government Administrators on April 1 2023 (topic to regulatory approvals) and as Holcim Space Supervisor for East & South Africa and Chief Finance Officer for Asia, the Center East, and Africa, respectively.
“The Board congratulates Mr. Surana and Ms. Shrivastava, who collectively convey a wealth of expertise from main numerous multinationals throughout completely different nations and roles. We thank Mr. Stull and Mr. Dubreuil for his or her service and need them the easiest of their future endeavours.” signed off Simba.
The group’s Turnover in H1 of 2022 hit $152 million, 2.6 p.c above prior yr H1 2021. This was pushed by quantity progress together with improved common promoting worth in comparison with prior yr.
The agency stated the primary half of 2022 was difficult with working revenue lowering to $1.5 million from $8.9 million. Vital inflation of the gasoline costs, logistics prices and imported clinker costs in each Kenya and Uganda adversely impacted the working revenue. This was additionally adversely impacted by foreign exchange losses of the Kenya shilling and Uganda shilling towards different main currencies.
The revenue earlier than tax declined to $942, 000 from $8.4 million primarily influenced by decrease working revenue.
