Julius Berger Nigeria Plc has announced a significant leadership transition, appointing Engr. Dr. Peer Lubasch as its new Managing Director, effective October 16, 2024. Dr. Lubasch succeeds Engr. Dr. Lars Richter, whose tenure ends on October 15, 2024, upon the expiration of his contract.
The company expressed confidence in Dr. Lubasch’s leadership, citing his extensive experience and expertise. “We are pleased to appoint Engr. Dr. Peer Lubasch as Director and Managing Director of the Company,” the statement read.
*Dr. Peer Lubasch’s Profile*
Dr. Lubasch, a German national, holds a doctorate in Civil Engineering from the University of Duisburg-Essen, Germany. He also completed advanced studies at the University of California, Berkeley, focusing on structural engineering and information technology.
Dr. Lubasch began his career with training in concrete construction at Bilfinger + Berger Bau AG, Wiesbaden. His expertise lies in fatigue analysis and pre-stress management in concrete elements. Before joining Julius Berger Nigeria in 2010, he worked as a technical project manager at a prominent engineering firm in Darmstadt.
Within Julius Berger, Dr. Lubasch held multiple leadership roles, including Technical Manager for the Central/North Region. In 2020, he transitioned to Julius Berger International GmbH, Wiesbaden, leading strategic reorientation efforts. In 2022, he was appointed CEO of Julius Berger International.
*Julius Berger’s Performance*
Julius Berger reported strong financial performance in Q2 2024, posting a pre-tax profit of N8.3 billion, up 12.08% from N7.4 billion in the same period last year. Revenue grew 10.58% year-on-year to N132.8 billion.
The company’s stock performance has also been impressive, rising over 220% year-to-date. In August, Julius Berger’s stock hit a record high of N170.50 per share, supported by a market volume of 141 million shares.
Julius Berger’s leadership transition and strong financial performance demonstrate the company’s commitment to growth and excellence. With Dr. Lubasch at the helm, the company is poised for continued success.
