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Argos announces structural transformation into two companies to accelerate its 2030 strategy

Argos announces structural transformation into two companies to accelerate its 2030 strategy

The Board of Directors of Cementos Argos has decided to move forward with its 2030 strategic ambition, which has been consistently communicated to the market, with the objective of unlocking the highest growth potential, maximizing flexibility, and driving value creation in both the United States and Latin America. This approach builds on a path the company has already successfully executed, delivering strong results for shareholders through key milestones, including the spin-off of Argos USA, its preparation for a NYSE listing, the subsequent business combination with Summit Materials, and the final monetization of its U.S. investment through the sale of Summit to Quikrete in 2025.


This decision entails a natural evolution of the organizational structure to accelerate the execution of this strategic ambition, through the separation of operations into two independent companies: Argos Materials in the United States and Argos Latam. Both companies are leaders in their respective regions and will operate with the autonomy needed to pursue growth opportunities and maximize value creation in their markets.


The operational separation of Cementos Argos into these two companies is expected to take approximately 24 months. During this transition period, both Argos Materials and Argos Latam will be supported by a Corporate Support Center, led by a newly appointed Executive Vice President.


As part of this structural transformation, the following key appointments are announced, effective April 1, 2026:

CEO of Argos Materials

Jason Teter was appointed CEO of Argos Materials on January 13, in recognition of his extensive experience in the U.S. construction materials industry. Throughout his career, Jason has held senior leadership roles at leading companies such as Vulcan Materials, where he served for nearly a decade on its Executive Committee, and Lafarge USA. In these positions, he led significant transactions and operations in the aggregates markets of the southeastern United States, combining operational excellence, disciplined growth, and a strong commercial focus.

CEO of Argos Latam

Carlos Horacio Yusty has been appointed CEO of Argos Latam, with responsibility for integrating and leading operations across Colombia, Central America, the Caribbean, and Trading, with a focus on operational excellence and synergy capture. As part of this process, operations across the fifteen geographies outside the United States will report to the CEO of Argos Latam, while the company continues to evaluate the optimal structure to further enhance regional growth.
Carlos holds a degree in Industrial Engineering from Pontificia Universidad Javeriana, a specialization in Engineering Management Systems from the same institution, and executive education in Senior Management from Universidad de San Buenaventura. He currently serves as Vice President of the Colombia Region at Cementos Argos and brings more than two decades of experience within the company, including roles as Chief Financial Officer and Corporate Finance Manager, among others. His appointment reflects his outstanding leadership of the Colombia Region, which has become one of the most efficient and profitable operations in the regional industry under the successful From Mine to Market management model.

Executive Vice President of Cementos Argos


Tomás Restrepo has been appointed Executive Vice President of Cementos Argos, with responsibility for leading the Corporate Support Center, advancing the company’s transformation agenda, and overseeing the transition process toward the operational separation of Argos Latam and Argos Materials, as well as strengthening engagement with the Board of Directors and investors. Tomás will work closely with the CEOs of Argos Latam and Argos Materials on the design, structuring, and definition of their strategic roadmaps.
He holds a degree in Mechanical Engineering from Universidad EAFIT, a Master’s in Product Design and Innovation, and a PhD in Industrial Engineering from the École Nationale Supérieure d’Arts et Métiers in France. Over his 19-year career at Argos, he has held several leadership roles, including Vice President of Strategy and Growth, Vice President of Future, Vice President of People and Transformation, and Vice President of the Colombia Region, among others, where he has led significant transformation and growth initiatives.


Chief Financial Officer of Cementos Argos


Natalia Ochoa will assume the role of Chief Financial Officer of Cementos Argos following the transition of Felipe Aristizábal to Vice President of Strategy and Finance at Grupo Argos. Natalia holds a degree in Administrative Engineering from EIA University, a Master’s in economics from EAFIT University, and a Master’s in financial engineering from New York University (NYU). She is also a CFA Charterholder.
Since 2022, she has led Corporate Finance at Cementos Argos, playing a key role in the combination of Argos USA with Summit Materials, the subsequent sale to Quikrete, and the financial structuring of the U.S. aggregates business (Argos Materials). Previously, she served as Director of Mergers and Acquisitions at Grupo Argos and as a Risk and Derivatives Analyst at Bank of America Merrill Lynch.


Chairman of the Board of Directors of Cementos Argos


During the transition period toward this operational separation—aimed at providing greater flexibility to pursue differentiated strategies in Latin America and the United States, and to further unlock shareholder value—Juan Esteban Calle, in his capacity as Chairman of the Board of Directors of Cementos Argos, will play an active strategic oversight role to ensure the effective implementation of the new model and alignment with the company’s long-term vision.
This will not be an operational role, as day-to-day management will be led by Carlos Horacio Yusty and Jason Teter in their respective capacities as CEOs. Both CEOs, together with the Executive Vice President, will report functionally to Juan Esteban Calle and the Board of Directors.

This strategic decision reinforces the Board of Directors’ confidence in the strength of Cementos Argos’ business plans, leadership, and talent, and is intended to accelerate a successful transition into two operating companies, each equipped with the flexibility, capabilities, tools, and corporate support required to achieve their full potential.


This organizational evolution does not modify the strategy or financial targets previously communicated to the market. On the contrary, it further strengthens Cementos Argos’ commitment to delivering sustainable value to its shareholders and stakeholders.

Piedad Monsalve
Communications, Reputation and Brand Senior Manager
Email: pmonsalve@argos.com.co
Mobile: +57 3013889652

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PIEDAD MONSALVE

Gerente de Reputación y Comunicaciones Corporativas
pmonsalve@argos.com.co

______________________

RAQUEL YEPES

Comunicaciones para Colombia
ryepess@argos.com.co

NATHALIA RIOS
Comunicaciones para Centroamérica nathalia.rios@argos.com.co
DANIELA VALLE

Comunicaciones para Caribe 
dvalle@argos.com.co

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Atmospheric emissions

We are committed to reducing our emissions through actions that achieve more efficient processes and the implementation of abatement measures, contributing to good air quality in the places where we operate.  Our cement-, concrete- and aggregate-production processes generate punctual and scattered particulate matter (PM) emissions, as well as emissions of sulfur oxides (SO2) and nitrogen oxides (NOx) in the clinkering furnaces of the cement plants.

  • For society:  To contribute to mitigating the impact on air quality in the areas where we operate, acting responsibly and promoting relationships of trust with our Stakeholders.

 

  • For the company:  To develop more efficient processes that allow us to reduce our atmospheric emissions and contribute to responsible production, complying with local regulations in the countries where we operate and – in some cases – going beyond compliance with said regulations, contributing to the profitability of the business and preparing to face future challenges.

The “Emissions” pillar of our Environmental Strategy focuses on: Working on the adequate measurement, control and reduction of SO2, NOx and particulate-material (PM) emissions generated by our production processes in the cement business and on the prevention and mitigation of our dispersed emissions of particulate material (dust), originated mainly by the activities of transportation, transfer, unloading and storage of materials in the cement, concrete and aggregate processes. The foregoing, through operational control, optimization and renewal of emission-control systems to achieve continuous improvement.

Industry positioning

We position ourselves as strategic allies for the development of the territories where we are present, directly and through the empowerment of our value chain.  We do it through the construction of housing and sustainable infrastructure that enables the closing of socioeconomic gaps, the generation of employment, the improvement of the quality of life and the reduction of the impacts generated.

  • For society:  To sustainably respond to the growing demand for housing and infrastructure of the world population with the aim of improving people’s quality of life, interconnecting regions and developing innovative solutions. 

 

  •  

    For the company:  To be strategic allies of the actors in our value chain in order to maintain the Company’s leadership in the market, ensure its competitiveness over time and increase the generation of sustainable value.

We are committed to the role we have as a Company in the achievement of the 2030 Agenda goals, the consolidation of territorial development plans where we operate, and the economic reactivation of the countries affected by the pandemic. Therefore, we focus our efforts in the development of sustainable housing and infrastructure projects that contribute to closing socioeconomic gaps, generating employment under safe conditions, environmental protection, and investment in improving people’s health systems and quality of life. 

Our work unfolds in three large lines:

 

Cities for everyone:

 

With nearly 54% of the world  population living in urban areas, the pandemic made inequality of those who live in the cities of the world

manifest. Nearly 90% of the COVID-19 cases are concentrated in the urban

centers that have, among others, challenges associated with access to basic services and decent housing conditions. For this reason, we work together with our value chain to develop projects that benefit the lessfavored population, facilitate access to housing, and promote development in

the areas of influence.

 

Interconnected cities

 

The need to connect urban areas with rural areas to expand the coverage

of basic services, such as health, has been a priority of developing countries

since before the pandemic. Therefore, during 2020, we continued working on creating innovative solutions that allow us to be present in the large projects of the countries and territories where we are present.

 

Intelligent cities

 

In recent years, the acuteness of the effects of climate change became the

risk of greatest impact to the world. Therefore, in the global stage, a need

has grown to transition to a low-carbon economy, an opportunity that becomes more relevant amid post-pandemic recovery scenarios and the effort we are making as a Company to generate new business models that respond to environmental and social challenges. For this reason, our Climate-Change Strategy includes actions aimed at mitigating the impacts associated with our productive processes, adapting our operating model and innovating from the identification of optimization opportunities.

Supplier management

Supplier management is a fundamental pillar of our Supply Chain Strategy; it seeks to build and strengthen relationships with strategic allies who have the ability to contribute to the Company in terms of efficiency, productivity, customer service and innovation.  For this reason, we carefully select our suppliers, transfer knowledge to promote their development, promote good practices and recognize those who are an example of sustainable, innovative, safe and responsible management.

  • For society:  To develop our suppliers, promote transparent practices and responsible conduct, to improve the productivity and competitiveness of our society and support the construction of a better future.

 

  • For the company:  To seek to add value throughout the Company’s supply chain, from the purchase of goods and services to the delivery of products to clients.  Through the mitigation of risks and potentiation of opportunities, the implementation of good contracting practices and service excellence, we create relationships of trust and turn suppliers into business allies.

Our management is divided into five stages:

  1. Identification: We determine the goods and services required for our operation and the category to which they belong, according to our Category Tree. This groups our suppliers into macro-categories which – in turn – are subdivided into two more specific levels.
  2. Pre-Selection: We validate the suitability of suppliers through due diligence and review aspects of sustainability and financial health to ensure long-term relationships.
  3. Negotiation: We select suppliers with high standards, considering technical, economic, sustainability and service aspects.
  4. Retention and evaluation: We carry out knowledge-transfer processes with those suppliers with growth potential.
    • We characterize our suppliers as critical suppliers or with potential risk in sustainability.
    • We measure the management of critical suppliers through performance evaluations in terms of quality, service, occupational health and safety, having constant feedback and identifying key factors for their development.
    • We apply the Sustainability Index to suppliers with potential sustainability risks, to identify challenges, opportunities, and to develop joint action plans in environmental, economic, social and Human-Rights matters.
    • We implement additional controls and development plans to suppliers belonging to categories where the greatest potential risks have been identified. This is how, for example, we develop road-safety strategies for our logistics suppliers; with mining suppliers, we carry out a more rigorous pre-selection process, and with contractors, we have special controls on occupational health and safety.
    • We have a Transparency Line for Stakeholders to report possible improper actions and to implement the pertinent corrective actions. 
  5. Recognition:  Every two years, through Growing Together (Creciendo Juntos), we recognize the suppliers that have shown outstanding performance in innovation, sustainability, health and safety and development and comprehensiveness.

 

Additionally, we have:

 

Contracting manual: transparent action framework that guides the negotiation and contracting of our suppliers to allow the process to be agile, make use of best practices and carry out adequate risk management.

 

Code of conduct for suppliers: in which we define the principles and behaviors that we expect from our allies in terms of respect for human rights, protection of workers, environmental management, business ethics and responsible business practices.

Ethics and compliance

We are convinced that ethics and integrity are fundamental and non-negotiable; that is why we live by these principles, integrating them into our operations, processes, and strategy, thus generating value responsibly for our business, our Stakeholders, and for society.  Through the Global Governance and Compliance Program, our ethics and business conduct system, we seek to promote that our actions are consistent with the pillars of corporate culture and integrity as the guiding principle of our business activity.

  • For society:  To promote transparent, competitive, and sustainable business environments that strengthen trust and ethics in business, generating positive impacts for the market and society.

 

  •  

    For the company:  To promote that our actions are consistent with the pillars of culture and that integrity is the inspiring principle of all members of the Organization.  This is how we consolidate ourselves as a competitive, reliable company in the eyes of investors and other Stakeholders.

We have voluntarily adopted a self-regulatory framework that confirms our commitment to business ethics as a way to promote transparent practices that contribute to the development of competitive environments. This framework* incorporates mandatory principles of ethics and conduct:

 

 

For the proper implementation and application of these guidelines, the strengthening of the ethical culture, the prevention and control of incorrect actions, our Board of Directors approved the Global Governance and Compliance Program (GGCP, in Spanish). The program structure incorporates international best practices to evaluate compliance programs, such as ISO 37001, ISO 19600 and the United States Department of Justice (DOJ) guidelines. The program has the following scope:

 

 

Likewise, it systematically groups together the activities carried out to promote integrity in the Company’s actions, its employees, and members

of the value chain, which allow the updating and permanent strengthening

of the program. Operating Scheme:

 

Efficiency and productivity

We materialize our Corporate Strategy through actions aimed at the efficient use of resources, the improvement of our financial flexibility and the maximization of income generation and business profitability.  We focus on the application of efficient, safe production processes and circular economy models, on the diversification of energy management models and on the efficient management of the supply chain.

  • For society:  To provide solutions and products that meet the needs of our clients through the responsible, appropriate use of resources and the incorporation of raw materials and alternative energy sources.

  • For the company:  To guarantee business sustainability, optimize working capital and capital investments, reduce costs and the level of indebtedness, and mitigate risks regarding the availability of resources necessary for our operation and the emergence of new business realities, environmental requirements and new regulations.

Creamos valor construyendo relaciones sólidas que transforman el futuro de la sociedad

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Creamos valor a través de nuestro compromiso con el desarrollo responsable y transparente de nuestras actividades.

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