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Balta Confirms Cyrille Ragoucy as Permanent CEO

Balta Confirms Cyrille Ragoucy as Permanent CEO

Balta Group NV has announced that Cyrille Ragoucy, current interim CEO of Balta, will assume the role in a permanent capacity.

Cyrille joined Balta mid 2017 as Chairman of the Board. Since August last year, he has also assumed the role of interim CEO and been instrumental in developing and starting to implement the recently announced three-year holistic earnings enhancement program, NEXT.

The Board commented: "With his strong track record of leading and driving strategy and profitability improvements and his impact on the company during the last six months, the Board is convinced that Cyrille is best placed to continue to drive and deliver the implementation of our transformational programme. We are delighted Cyrille has agreed to stay at Balta as permanent CEO.”

Cyrille Ragoucy, CEO, commented: "I am delighted to assume the role of CEO in a permanent capacity and have the opportunity to drive the transformation programme through to completion. I look forward to continuing to work with the Board and the broader team at Balta to complete our programme and ensure the business is best positioned for future profitable growth.”

Cyrille has more than twenty-five years’ experience in senior management positions. His last operational position, before becoming interim CEO of Balta, was CEO of Tarmac Ltd. In that role he oversaw creation of the joint venture between Lafarge SA and Anglo American as well as the integration of several acquisitions, before the entity was purchased by CRH, a large Irish construction firm, in August 2015. During his tenure at Tarmac, Cyrille, with his team, launched and successfully implemented a three-year commercial and operational excellence program that resulted in significant EBITDA improvement.

From 1998 to 2012, Cyrille was part of the Lafarge Group, where he held several director and executive-level posts. These included serving as CEO of Lafarge Shui On Cement, a Chinese joint venture between Lafarge and Shui On, and as CEO of Lafarge Construction Materials for Eastern Canada.

www.baltagroup.com

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