Dangote Cement Appoints Ex-Holcim India Head van der Weijde CEO
Dangote Cement Plc (DANGCEM), Africa’s biggest producer of the building material, hired Onne van der Weijde as chief executive officer, its outgoing CEO said.
van der Weijde will take over the role from Feb. 1 , Devakumar Edwin said in an e-mailed response to questions from Bloomberg News. Edwin said the transition comes at a time when some of the large capital expenditure projects of Dangote Industries Ltd., which he handles, have started to materialize.
Dangote Cement, Nigeria’s largest company, could benefit from a predicted rise in cement prices in the country. Its projects, including a petroleum refinery, a petrochemicals complex and fertilizer plant, are now underway, Edwin said.
The management change may also help pave the way for a London listing of Dangote Cement. Aliko Dangote, Africa’s wealthiest man, said in 2013 that the company will probably list shares in London in the fourth quarter of 2014 or first three months of 2015. The share sale would dilute Dangote Industries Ltd.’s ownership in Dangote Cement to about 70 percent to 75 percent, he said then. Aliko Dangote is chairman of Dangote Group.
Dangote Cement has fallen 33 percent in the past year, compared with a 29 percent decline in the benchmark Nigerian Stock Exchange All Share Index (NGSEINDX) over the same period.
Mr. van der Weijde had been the Managing Director of Ambuja Cements Limited since May 1, 2010 until April 2014 and served as the Chief Financial Officer of ACC Limited since May 1, 2006. He served as General Manager for Holcim (India) Pvt. Ltd. since March 2005. He serves as a Director of Bulk Cement Corporation (India) Ltd. and ACC Concrete Ltd. He had been the Whole-time Director of Ambuja Cements Limited since February 17, 2010 until April 2014.
He served as Non Executive Director of Ambuja Cement Eastern Ltd. since May 2005. He served as a Non Executive Director of Ambuja Cements Limited from January 9, 2009 to February 2010. He served as a Director of ACC Limited from January, 2009 to October 2009.
He served as Director of Holcim Indonesia Tbk PT. Mr. van der Weijde holds a Bachelor’s degree in Business Administration in Economics & Accounting from Rotterdam, Netherlands and an Masters degree in Business Administration from the University of Bradford, UK.
