Jean-Carlos Angulo resigns as Rossen Papazov joins Lafarge Africa board of directors

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The management of Lafarge Africa Plc has announced the resignation of Mr. Jean-Carlos Angulo as Non-Executive Director of Lafarge Africa Plc with effect from the 20th of July 2018.

Mr. Jean-Carlos was appointed to the Board of the Company on the 12th of March 2012 and has since served in the capacity of a Non-Executive Director. The Company and the Board has benefitted from his technical expertise and the pivotal role he played in the expansion projects since he joined the Board.

The company said in a statement that “The Board and Management of the Company wish to express their appreciation to him for his support and contributions to Board deliberations towards the achievement of the business goals and objectives. We wish him the very best in his future endeavours.”

Mr. Rossen Papazov (Bulgarian) is currently the Country Chief Executive Officer (CEO) of LafargeHolcim South Africa. He joined LafargeHolcim Group in 2000 as a Business Development Manager.

Before then, he worked at the World Bank as a Financial Management Specialist in Sofia, Bulgaria, and as a Senior Associate at Arthur Andersen. Rossen holds an MBA from the prestigious International Institute for Management Development, Lausanne, Switzerland, and he is a Fellow of the Association of Certified Chartered Accountants, Glasgow, UK.

The board also announced the appointment of Mr. Rossen Papazov as Non-Executive Director on the Board of Lafarge Africa Plc with effect from the 21st of July 2018.
Profile of the new Director

Mr. Rossen Papazov who is from Bulgaria is currently the Country Chief Executive Officer (CEO) of LafargeHolcim South Africa.
He is a graduate of Finance from The University of National and World Economy and has an MBA from International Institute for Management Development, Lausanne, Switzerland.
He is a Fellow of the Association of Certified Chartered Accountants, Glasgow, UK.
He was a former senior Associate at Arthur Andersen, Sofia, Bulgaria from 1997-2000.
Papazov was also a Business Development Manager, Holcim and Country Financial Management Specialist at the World Bank from 2002-2004.
He was also a Marketing Director at Holcim in Belgium from 2007-2010, Commercial Director at Holcim in Romania from 2010-2013.
Country CEO, Holcim Azerbaijan and later was appointed the country CEO, LafargeHolcim, South Africa from 2017 until his recent appointment.

Lafarge Africa in its recent 2018 half-year financial report for the period ended 31 June 2018, recorded a surge in revenue from N154.83 billion in half-year 2017 to N162.29 billion in 2018. Loss Before Tax for the half year 2018 is N6.34 billion as against a profit before tax of N18.16 billion for the half year 2017.

Lafarge Africa Plc (Lafarge Africa) was incorporated in Nigeria on 26 February 1959 and commenced business on 10 January 1961. The Company formerly known as Lafarge Cement WAPCO Nigeria Plc changed its name after a special resolution was passed by the shareholders at an Annual General Meeting (AGM) held on Wednesday 9 July 2014.

The change of name became effective with the acquisition of shares in Lafarge South Africa Holdings (Proprietary) Limited (LSAH), United Cement Company of Nigeria Limited (UNICEM), AshakaCem PLC (AshakaCem) and Atlas Cement Company Limited (Atlas).

On July 15, 2016, Lafarge S.A. France and Holcim Limited, Switzerland two large global players merged to form LafargeHolcim Group based in Zurich, Switzerland. Consequently, Lafarge Africa is now a subsidiary company of Lafarge Holcim.

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