Reuters are reporting that Camargo Correa SA, the Brazilian company with interests in cement, has announced that it has tapped Heinz-Peter Elstrodt as chairman.
The move forms part of the group's transformation into an investment holding company.
Elstrodt worked for McKinsey & Co for 32 years, and was recently the US consultancy company's head of Latin American operations.
The decision to appoint Elstrodt follows a decision by the family that controls Camargo Correa to migrate towards a model of running a portfolio of companies.
Elstrodt replaces Vítor Sarquis Hallack, who stepped down in August.