A new financial officer has been appointed.
Dangote Cement today announced the resignation of its Chief Finance Officer, CFO, Tim Surridge.
‘Family reasons’ were highlighted as a reason for the resignation.
According to Renaissance Capital, an investment bank which offers in depth coverage and investment views on the company, this event will have “no impact on the investment case, however market will be watching for the replacement.”
Kuzhiyil Ravindran, who is currently CFO Dangote industries and was previously CFO Dangote Cement, would take up the position in interim capacity, RenCap said, adding that a Global search is however on for a permanent replacement who will be announced in due course.
Dangote Cement is the largest indigenous producer of cement in Nigeria with plants in different states.