Cold Call How a Family-Owned Greek Cement Company Evolved Its Leadership While Pivoting Its Product Portfolio
Apr 28, 2026
Dimitri Papalexopoulos, longtime leader who globalized and digitized TITAN Cement. George Serafeim, Harvard professor on sustainability and purpose-driven firms. They discuss leadership succession at a family firm. They explore AI pilots in cement, shifting to low-carbon products, balancing central control with local autonomy, and the tensions of rapid innovation versus organizational capacity.
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Young CEO Led Titan's Global Leap
- Dimitri became CEO at 34 and led Titan's globalization just as Greece joined the EU.
- He used a lean corporate center, Greek diaspora talent, and joint ventures to transfer capabilities while devolving responsibility locally.
Geographic Diversification Amplified Systemic Risk
- Titan chose geographic diversification over industrial diversification to stick to its cement core while entering new markets.
- That leveraged know-how but exposed them to correlated country crises in Greece, Florida, and Egypt during downturns.
Crisis Forced Deep Cuts But Kept People Intact
- During the 2008–2010 era Titan saw volumes collapse: Greece down ~82% and Florida down ~75%.
- The company sold peripheral assets, cut costs selectively, and leaned on its 120-year history to keep people committed.