Raymond Barro will become the chairman of Adelaide Brighton
The Barro family already holds 43 per cent of the company
Zlatko Todorcevski demotes himself to deputy chairman to bolster the independent director ranks
Melbourne's Barro family is tightening its grip on Australia's biggest cement group, Adelaide Brighton, in a boardroom move that adds to perceptions it is pushing for control without paying a premium.
The level of angst has been rising inside the boardroom at the company, where the Barro family holds 43 per cent of the $3 billion ASX-listed company and regularly uses creep provisions to lift its stake.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
