Joey Ghose new CEO of Raysut Cement

Oman’s Raysut Cement Co has appointed Joey Ghose as new CEO of the company, effective 2017, reports the company in a filing to the Muscat Securities Market.

It is expected Mr Ghose will bring his extensive experience in the cement industry to bear as he addresses the challenges faced by the company. Changes to the income tax law in Oman resulted in a 60 per cent fall in 9M17 profit for the producer and local market competition and tough export markets have contributed to lower sales volumes. Group-wide operating profits declined by 55 per cent to OMR8.15m (US$21.2m) in 9M17 when compared with the equivalent period in 2016, when operating profit reached OMR18.05m.