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Lafarge CEO Resigns

Lafarge Cement Zimbabwe Limited chief executive officer, Precious Murena has left the company to pursue undisclosed new interests after 18 months at the helm of the organization, the company has announced.

Lafarge issued the statement on Zimbabwe Stock Exchange (ZSE) website to inform its shareholders and the investing public this morning.

The cement-maker said Murena will be replaced by current Chief Financial Officer Amr Elmowafy Aly Mowafy who will be on acting capacity until a substantial appointment is made at a date yet to be announced.

“The Board of Directors, Management and Staff of Lafarge Cement Zimbabwe Limited would like to thank Precious for her service to the organization and wish her success in her future endeavors,” said the company.

“Precious Murena championed capital projects and introduced new technologies in building. Precious will always be remembered as the first female Zimbabwean to become a Chief Executive Officer of Lafarge Cement Zimbabwe Limited.”

Murena joined Lafarge Cement Zimbabwe Limited in 2011 and rose through the ranks to become Chief Executive Officer in 2020.

In 2020, revenue for the company grew by 68.5 percent to ZW$6.9 billion ( from ZW$4.1 billion) due to a significant volume growth in the Dry mortars business and a market shift towards high strength cement which influenced a significant change in the cement product mix.

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