Displaying items by tag: Resignation

Saudi Arabia: Al Jouf Cement Company’s board of directors has accepted the resignation of Suleiman Abdulaziz Al-Zaben as chair of its audit committee. Al-Zaben had been serving as committee member from outside the board.

In July 2024, Al Jouf Cement Company took legal action against unnamed former board members, following an investigation into possible ‘administrative irregularities’ by an independent auditor launched in December 2023.

US: Monarch Cement announced vice president of cement manufacturing Kenny Miller’s retirement in a posting published on OTC Markets on 15 January 2024. Miller had held his position since April 2014. He holds a Bachelor of Science degree from Friends University, Kansas.

Denmark: FLSmidth’s chief financial officer (CFO) Lars Vestergaard has agreed with the board of directors to resign from the company, effective immediately. FLSmidth has stated as the reason for the change a need for ‘a different set of competences to strengthen our organisation and execute long-term financial targets.’ It thanked Vestergaard for his commitment and dedication in helping FLSmidth achieve milestones in ‘creating a stronger and more focused organisation. FLSmidth Head of Group Reporting and Compliance Naja Barrisøe supersedes Vestergaard as interim CFO until the newly appointed CFO joins the company on or before 1 July 2020.

Nigeria: Dangote Cement’s non-executive director Fideli Madavo has resigned from his position on the company’s board. Madavo represented the stakeholder Public Investment Corporation (PIC), South Africa’s state pension fund, where he is head of resources and portfolio manager for strategic and African listed investments. The company has not stated a reason for the change.

Russia: 577 Gornozavodskcement employees became unemployed in the six months to 30 June 2019. 87 resigned, 195 retired and 295 left by agreement with the company. This follows South Ural Mining and Processing’s takeover of the struggling cement producer in December 2018. Kommersant has reported that the liquidation of auxiliary departments is a part of unit optimisation which extends to the company’s facilities, with the site of a planned dry line at its 2.2Mt/yr (wet) integrated Perm cement plant being used for parking. Wages have reportedly risen for the remaining three quarters of the Gornozavodskcement’s original staff.

India: IDBI Bank has decided to withdraw the nomination of S K Mohapatra from the board of debt-ridden Jaiprakash Associates. In a BSE filing, crisis-hit Jaiprakash Associates informed that Subrat Kumar Mohapatra, the chief general manager of IDBI Bank, has resigned from the board. IDBI Bank has decided to withdraw the nomination of Subrat Kumar Mohapatra from the board of directors of the company with immediate effect, the filing said. Mohapatra thus ceased to be director of the company with effect from 13 February 2018.

Jaiprakash Associates, the flagship firm of the Jaypee Group, has interests in cement, construction, hospitality, power and real estate businesses. The company has divested a number of its assets, including cement plants, to reduce debt.

India: Manoj Agarwal has resigned as the company secretary and compliance officer of Star Cement, with effect from 2 August 2017. His successor is Debabrata Thakurta, a member of the Institute of Company Secretaries of India.