Julius Berger Nigeria Plc has announced a significant leadership change with the appointment of Engr. Dr. Peer Lubasch as a Director and the new Managing Director of the company.
This follows the resignation of the current Managing Director, Engr. Dr. Lars Richter, whose tenure will conclude upon the expiration of his contract on October 15, 2024.
The company, in an official statement, expressed confidence in Dr. Lubasch’s leadership, emphasizing his extensive experience, with his appointment slated to take effect on October 16, 2024.
The statement read, “The resignation of Engr. Dr. Lars Richter was accepted at the conclusion of his contract on October 15, 2024. In accordance with our Executive Management succession plan, we are pleased to appoint Engr. Dr. Peer Lubasch as Director and Managing Director of the Company.”
Profile of Dr. Peer Lubasch
Dr. Peer Lubasch, is a German national who holds a doctorate in Civil Engineering from the University of Duisburg-Essen, Germany.
His academic journey also includes advanced studies at the University of California, Berkeley, focusing on structural engineering and information technology.
Dr. Lubasch’s career began with training in concrete construction at Bilfinger + Berger Bau AG, Wiesbaden, where he gained early experience in the field.
His professional expertise lies in fatigue analysis and pre-stress management in concrete elements, which he extensively researched during his doctoral studies.
Before joining Julius Berger Nigeria in 2010, Dr. Lubasch worked as a technical project manager at a prominent engineering firm in Darmstadt.
He has since held multiple leadership roles within Julius Berger, including Technical Manager for the Central/North Region.
In 2020, he transitioned to Julius Berger International GmbH, Wiesbaden, where he spearheaded strategic reorientation efforts as head of the planning departments. In 2022, he was appointed CEO of Julius Berger International.
Additionally, Dr. Lubasch serves as a lecturer at Darmstadt University of Applied Sciences and is a member of the Chamber of Engineers of the State of Hesse.
Julius Berger’s Performance
- Julius Berger has reported strong financial performance in the second quarter of 2024. The company posted a pre-tax profit of N8.3 billion, marking a 12.08% increase compared to N7.4 billion in the same period last year.
- Revenue also saw a 10.58% year-on-year growth, reaching N132.8 billion.
- The company’s positive momentum in 2024 has been reflected in its stock performance, with shares 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.