• Thursday, March 28, 2024
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Dangote Cement hires new CFO ahead of London IPO

Why this is time to buy Dangote cement

Dangote Cement has hired Guillaume Moyen as chief financial officer for operations ahead of its proposed listing on the London Stock Exchange later this year.

Moyen, as explained by Carl Franklin, head of investor relations at the Lagos-based company would be taking on a newly created position.

Franklin made the clarification in an interview with Bloomberg, explaining that the new CFO for operations would report to the Group’s Chief Financial Officer, Brian Egan.

Guillaume Moyen who is joining from U.A.E.-based OLA Energy where he was CFO, is French but resident in the United Kingdom.

Moyen has professional experiences in France, Europe, North America, Africa, Middle East and Asia where he has served in various capacities including CFO of international companies-private and quoted-intervening in the industrial, service, and distribution sectors.

His resume includes the local and remote management of multicultural and multidisciplinary teams of more than 150 employees.

In his professional years up to the recent appointment at Dangote Cement, Moyen has performed excellently in missions, carried out strategic positioning, optimization of operational and financial performance, restructuring, change management, optimization of back-office and operational processes, ERP deployments, internal audit, Mergers and acquisitions, and fundraising/international financing.

Concerning the IPO, Dangote Cement is considering executing its plan on the listing of shares in London after the Nigerian presidential and parliamentary elections on 16 February 2019 and state government elections in March.

Dangote Cement had penciled in September 2019 for a long-mooted initial public offering in London.

In 2010, billionaire owner, Aliko Dangote jettisoned plans to sell shares in London after a number of International Banks put in efforts to raise as much as $5bn.

Following plans to revive the IPO in London early last year, Dangote Cement in April appointed former Xstrata Plc. Chief Executive Officer Mick Davis as a non-executive director alongside Cherie Blair, a lawyer and the wife of ex-U.K. Prime Minister Tony Blair, in a bid to strengthen its board.

So far, steps taken in the move to list later this year seem to improve the prospect of completing the deal.

 

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