How a Family-Owned Greek Cement Company Evolved Its Leadership While Pivoting Its Product Portfolio

Over 26 years at the helm, Dimitri Papalexopoulos, fourth-generation CEO of TITAN Cement, has turned the company from a domestic player into an internationally diversified group and championed an AI-driven productivity leap, even while steering the company through multiple economic crises. As TITAN prepared for its next phase of growth, Papalexopoulos faced the consequential decision of whether to continue leading the company, promote a trusted insider, or become the first in the company’s history to recommend to the board appoint a non-family CEO.

After a global search the board does decide to appoint Marcel Cobuz—ex-LafargeHolcim executive with deep innovation experience—as TITAN’s first non-family CEO. Cobuz co-creates a four-pillar roadmap: sharpen the core cement portfolio, accelerate low-carbon products and aggregates, build a tech-driven innovation engine and empower country units while tightening performance accountability. Two years on, TITAN posts record revenues and profitability, green products reach 30% of output and a minority stake in TITAN America lists on the NYSE. Yet initiative overload strains the organization, raising the question: is Cobuz’s stretch agenda visionary or too much, too fast?

Harvard Business School Professor George Serafeim and TITAN former CEO Dimitri Papalexopoulos join Brian Kenny to discuss the case, “Transforming a Titan,” exploring digitalization, globalization, and succession planning of an established family business as well as how to accelerate low-carbon efforts in a carbon intensive industry.