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Dangote Cement’s Chief Finance Officer resigns

By on June 10, 2013

Dangote Cement has announced the resignation of its Chief Finance Officer,Tim Surridge. The company said its former official cited family reasons for his exit.

Kuzhiyil Ravindran, who is currently the Chief Finance Officer of Dangote Industries, has been assigned to take up the position in interim capacity, while a permanent replacement will be announced in due course.

Reacting to the development, Renaissance Capital, an investment bank which offers in-depth coverage and investment views on the company, said the event will have no impact on the investment case, adding that “the market will be anticipating the expected replacement.”

Dangote Cement is the largest indigenous producer of cement in Nigeria with plants in different states.

Its owner, Aliko Dangote, was recently named by Forbes as one of the top 25 richest persons in the world with an estimated worth of $20billion.

He, Dangote is the first African to have attained such feat.