The Board of Directors of Bamburi Cement PLC (the “Company”) hereby announces the resignation of Ms. Grace A. Olouch as a Director and Chief Finance Officer of the Company effective 31st January 2022. Ms. Olouch was appointed to the Company’s Board on 18th October 2018 and has rendered invaluable service and leadership during her tenure. The Board thanks her for her dedicated service to the Company and wishes her success in all her future undertakings.

Subsequently, the Board is pleased to announce the appointment of Mr. Vasileios Karalis as the Chief Finance Officer (“CFO”) of the Company effective 1st February 2022, subject to regulatory approvals. With the appointment, Mr. Karalis will take on an Executive Director role on the board and also serve as the Regional CFO, Kenya and Uganda.

Mr. Karalis, a Greek national, is currently a Non-Executive Director on the Company’s Board and is the CFO for Holcim’s East, South Africa, and Indian Ocean Area based in Johannesburg, South Africa. He has over 17 years of finance and corporate leadership experience, having joined the Holcim Group in 2007 from PricewaterhouseCoopers, Athens, Greece. After holding several finance positions in Lafarge Athens, Greece, he moved to Lafarge Group in Paris, France, as the Investment, Mergers & Acquisitions Projects Manager. In 2015, he joined Lafarge Cement in Jakarta, Indonesia, initially as Vice President – Finance and later as Head of Financial Controlling. In 2018, he was appointed Regional Controller for Middle East and Africa based in Paris and then Zurich, Switzerland. He holds a Master’s Degree in International Banking and Finance (Distinction) from JM University, Liverpool, and is a member of the Economic Chamber of Greece.

The Board congratulates Mr. Karalis on his appointment.

On behalf of the Board of Directors,

Waeni Ngea (Ms.)
Company Secretary
19th January 2022

For more information about the Company, please visit www.lafarge.co.ke