General manager of Caribbean Cement Company Limited Anthony Haynes is to demit office, Wednesday Business has learnt.
It's understood that Haynes, a Trinidadian, is to be replaced by a Mexican executive.
When contacted, Chairman of Caribbean Cement Christopher Dehring said he could neither confirm nor deny whether the Haynes is being replaced and instead referred Wednesday Business to parent company Trinidad Cement Limited (TCL).
"I think what you have to do is to speak with the company directly. I am not close enough to the (issue). There is an operational protocol, so I am sure the company would be happy to talk to you in due course," Dehring said.
Two weeks ago, Trinidad Cement announced that under a rights issue, minority shareholder Sierra Trading, a subsidiary of construction giant Cemex of Mexico, had increased its ownership of TCL from 20 per cent to 39.5 per cent. Although Sierra and TCL struck an agreement that the former would not acquire more than 40 per cent of TCL, questions continue to be raised in Trinidad about a potential takeover by Cemex.
Dehring said that as Caribbean Cement is part of a wider operation "whatever the group executive is working out with regards to any statement to do with operations, I much prefer it come from the company itself rather than the board members speaking out about any operational aspect of the company".
Wednesday Business further sought clarification from the CEO of Trinidad Cement, Alejandro A. Ramirez Cantu, but was told a representative would return the call at a later date.
Haynes did not return calls for comment up to press time.