Lafarge Africa Plc has informed its stakeholders and the general public about the resignation of its Group Chief Executive Officer, Michel Puchercos.
In a statement signed by the Company Secretary, Adewunmi Alode, and sent to the Nigerian Stock Exchange, Lafarge Africa further disclosed that Puchercos’ resignation would take effect from January 7th, 2020.
Puchercos joined Lafarge Africa’s board in April 2016 and was instrumental to the implementation of strategic initiatives that enabled the company to grow. The company said the board wishes him all the best as he moves on to other things.
“The Board of Lafarge Africa Plc (“the Company”) hereby notifies The Nigerian Stock Exchange and the investing public of the resignation of Mr. Michel Puchercos from the Company as the Group Managing Director/Chief Executive Officer (GMD/CEO) with effect from the 17 th of January 2020. Mr. Puchercos served the Company as an Executive Director on the Board since the 1st of April 2016.
“During his tenure as the GMD/CEO, he implemented a successful turnaround plan for the business addressing the legal, financial and management structure of the Company, Health & Safety improvements and the implementation of new operating processes. We wish him the best in his future endeavours.”
Recall that a recent analysis by Nairametrics listed Michel Puchercos as one of the highest-earning Nigerian CEOs. He earned about N312 million as of full-year 2018, according to checks from the company’s financial statement.
[READ MORE: Axa Mansard announces Director’s resignation)
In the meantime, the company already has a replacement for Puchercos. The statement that was sent to the NSE earlier today went further to disclose that Khaled Abdelaziz El Dokani will take over the CEO position once Puchercos leaves in early January.
El Dokani is a graduate of Alexandria University in Egypt. Prior to his latest appointment, he held key positions in many of LafargeHolcim’s operations across the Middle East such as Algeria, Qatar, Saudi Arabia, etc.
Lafarge Africa’s share price traded at N13.90 on the Nigerian Stock Exchange today.