Lorenzo Zambrano, the CEO of Mexican cement giant Cemex, died of natural causes at the age of 70 in Madrid, Spain on Monday. Zambrano had led the company since 1985 and was responsible for transforming it into one of Mexico’s first multinationals.
One of the world’s largest building materials suppliers and cement producers, Cemex is headquartered in Monterrey, Nuevo Leon and operates in 50 countries across five continents.
Since the turn of the century it has played a major role in the outsourcing industry through its subsidiary Neoris, the largest IT consulting company in Mexico and the second largest in Latin America. Founded in 2000, Neoris has over 3,500 employees and in 2011 it became the first global services company with Latin American origins to achieve SAP global partner status.
Last December Neoris signed a major deal with US$500 million to provide Cemex with ITO services for the next 10 years. That came in addition to an even bigger IT and BPO deal Cemex signed with IBM in July 2012.
Under the 10-year contract worth US$1 billion, IBM will provide applications development and support, IT infrastructure, and back office processes across finance, accounting, and human resources. The agreement remains one of the biggest IT services deals ever struck by a Latin American firm.
Zambrano’s death was unexpected and there is not believed to be a clear succession plan. The family company was founded by his grandfather in 1906 but Zambrano never married and has no children of his own.
“Lorenzo Zambrano turned Cemex into a very structured business. Its basis was “The Cemex Way,” an initiative to identify, incorporate and standardize best practices. This gave the company a competitive advantage and it’s now recognized at a global level,” said Hector Cantu Medina, CIO of Monterrey-based steel firm Villacero, worked with Cemex for over a decade.
“Without doubt one of his main legacies was his business vision; all of the acquisitions that Cemex made were well thought out and well planned and he always knew when to take the right step,” Cantu told Nearshore Americas. “He was a businessman that also helped the state community and he headed many altruistic initiatives in order to give back to society,” Cantu added.
“My condolences to the family and friends of Mr. Lorenzo Zambrano, a man of great commitment and love for Mexico,” President Enrique Peña Nieto wrote on Twitter. Zambrano “made Cemex the number one cement producer in the world,” Peña Nieto added.
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