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Raysut Cement appoints new CEO

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World Cement,

Oman’s largest cement producer Raysut Cement Co. has announced the appointment of Salem Alawi Mohammed Baabood as the company’s Chief Executive Officer, effective from 3 June 2014.

In a disclosure to the Muscat Securities Market (MSM), Ahmed bin Alawi bin Abdullah al Ibrahim, Chairman of the Board of Directors of Raysut Cement, stated that the Board of Directors had appointment Baabood as the CEO of the company in its meeting No. (3/2014).

Baabood will take the place of Mohamed Ahmed al Dheeb, who was relieved of the position in December 2013 and was appointed as an advisor to the Board of Directors. The board had appointed Baabood as acting CEO until a new CEO was selected for the company.

4Q results

According to a statement to Muscat’s bourse, Raysut Cement recorded a profit of OMR8.23 million (US$21.4 million) in the quarter ended 31 March 2014, an increase from OMR8.17 million recorded in the quarter ended 31 March 2013. Revenue for the quarter stood at OMR24.82 million, declining from OMR25.22 million in the same period a year earlier.

Edited from various sources by Rosalie Starling

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