By Alois Vinga
ZIMBABWE Stock Exchange-listed cement manufacturer, Lafarge has appointed John William Stull to the group’s position of non-executive director.
The appointment is with effect from June 10, 2021.
In an update, Lafarge board chairperson, Kumbirayi Katsande described Stull as a seasoned and well-experienced business leader.
He said Stull is currently the area manager for Sub Saharan Africa based in Switzerland and prior to this role, he was the President and Chief Executive Officer of HolCim Philippines from 2018 to 2021.
His diverse professional background spanning over 29 years includes leadership in cement and ready-mixed operations for several United States of America divisions as well as operations in a number of markets across the world under the Holcim group.
“Holder of Chemical Engineering Degree. Some of John’s notable appointments include Regional President for the Sub-Saharan Africa region in Egypt, Cairo and as the Regional President for Latin America based France Paris, John has also served as Senior Vice President – Marketing and Supply Chain for Holcim based in France.
“The board Management and Staff at Lafarge Cement Zimbabwe warmly welcome John and wish him success in his tenure on the board,” said Katsande.
Stull took over at a time when the just-published full-year financial results of the company revenue grew to 68,5% to reach $6,9 billion inflation-adjusted compared to prior year performance.
The growth in revenue was attributed to sales growth, price growth, and strategic product mix changes.
The growth is attributed to adaptive and agile strategy, backed by a strong and resilient management framework.
Currently, the company is working on a three-pronged US$25 million capital expansion programme which is now in its final phase of implementation following the successful installation of alternative power infrastructure in 2019 and the successful completion of the automated Dry Mortars Plant in 2021.
The production capacity for the Dry Mortars business has effectively increased from 7 000 tonnes per annum to 100 000 tonnes per annum, making the company the biggest producer of Dry Mortar products in Zimbabwe.
Significant volume growth is therefore foreseen in the Dry Mortars business following the plant commissioning in April 2021.