Rabat – The Board of Directors of Ciments du Maroc, meeting on January 4, 2024 under the chairmanship of Mohamed Chaïbi, announced the appointment of Severin Weig as the new Chief Executive Officer, succeeding Matteo Rozzanigo, who submitted his resignation to the Board.
Severin Weig is set to commence his responsibilities on February 1, 2024, with Mr. Matteo Rozzanigo assuming the role of President for the North-East-North America region within the Heidelberg Materials Group.
The Board expressed its gratitude to Mr. Rozzanigo for his dedicated service throughout his tenure.
Severin Weig, an accomplished professional with a wealth of experience, brings a diverse skill set to his new role.
Having joined the Heidelberg Materials Group in 2012, Weig has navigated through various positions, culminating in his recent appointment as the Director of Group Treasury, Group Insurance & Corporate Risk within the German-based conglomerate.
Prior to his current position, Weig’s career trajectory includes stints in multinational investment banks, contributing significantly to the finance sector.
Notably, in June 2022, he was appointed as a member of the Sustainable Finance Advisory Committee of the Federal Government, highlighting his commitment to financial sustainability.
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His leadership in sustainable finance has been further emphasized through his membership in the Sustainable Finance-Beirat, a role he has successfully held for over a year.
Weig’s journey within Heidelberg Materials has been marked by a demonstrated commitment to financial acumen and strategic risk management. Serving as Director of Group Treasury since March 2015, he has played a crucial role in shaping the financial landscape of the organization.
His achievements were acknowledged with his promotion to his current role in November 2018, where he oversees not only treasury but also insurance and corporate risk on a group level.
In the broader context of Weig’s career, his expertise in finance and management has been honed through a rigorous educational background. A Chartered Financial Analyst (CFA) since 2008, he earned his stripes at the CFA Institute.
Additionally, his academic journey includes a Diplom Betriebswirt in Finance from the Frankfurt School of Finance & Management, completed between 1999 and 2004.
Weig’s professional journey extends beyond Heidelberg Materials, featuring roles in renowned financial institutions. Notably, he served as an Associate Director at Macquarie Europe from July 2010 to November 2012, where he held the position of Head of Single Stock Trading.
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Prior to that, he spent four years as Senior Vice President at Sal. Oppenheim, contributing to trading structured equity derivatives.
Before his tenure at Sal. Oppenheim, Weig was a Trader at Dresdner Bank AG from 1999 to 2005, gaining invaluable experience in trading structured equity derivatives.
The leadership transition at Ciments du Maroc comes at a critical juncture for the company. Weig’s appointment is expected to usher in a new era, blending his extensive financial expertise with a commitment to sustainable practices.
The company’s latest annual report for 2022 highlighted a 10.7% decline in cement sales, attributed to the economic repercussions of the conflict in Ukraine and the subsequent international economic downturn.
The construction sector, in particular, grappled with the impact of soaring construction material prices, leading to halted projects and postponed new ventures.
The geopolitical uncertainties of the past year have added another layer of complexity to the industry, presenting a unique set of challenges for the incoming CEO.
Weig’s extensive experience and proven track record in finance, coupled with his commitment to sustainable practices, position him as a dynamic leader for the challenges and opportunities that lie ahead.
