In the framework of their proposed merger of equals, and following a proposal from Lafarge Chairman and CEO Bruno Lafont, the boards of directors of Lafarge and Holcim have approved the appointment of Eric Olsen as future Chief Executive Officer of LafargeHolcim, to be in office as from the closing of the merger project.
Eric Olsen is presently Executive Vice-President of Lafarge, in charge of Operations. He has been a member of the Group’s Executive Committee since 2007. Fifty-one years old, he has dual American and French nationalities. Eric Olsen has an international and extensive experience. He successfully held senior positions in operations and in the fields of finance, human resources and strategy. Eric Olsen also benefits from a deep experience of driving change linked to the roles he has played in matters of integration and organisation in multicultural environments.
Commenting on the appointment, Wolfgang Reitzle, Chairman of the Holcim Board and future co-Chairman of LafargeHolcim said: “I very much welcome Eric Olsen as future CEO for LafargeHolcim. With his broad international experience and insights in key markets, he is best positioned to lead the combined company for the benefit of employees, shareholders and customers. Bruno and I will support Eric Olsen in creating a new joint culture that will be the key driver for our premier competitive position.”
Lafarge Chairman and CEO, and future LafargeHolcim co-Chairman, Bruno Lafont said: “Eric has been proposed as future CEO of LafargeHolcim both for his personal and professional qualities. He has a deep knowledge of our activities, clients and markets. He is driven, with energy and determination. He is a true leader, with the ability to bring the teams together to drive a strong value creation culture for our shareholders. I have every confidence in his ability to deliver the synergies announced and ensure the development and the success of LafargeHolcim.”
Appendix – detailed biography
Eric Olsen, 51 years old, American and French citizen, is currently Executive Vice President Operations of Lafarge, responsible for a large number of countries such as France, USA, Brazil and Egypt.
He joined the Lafarge Group in 1999 and has been a member of its Executive Committee since 2007.
He joined Lafarge North America in 1999, as Senior Vice President for Strategy and Development, leading the integration of Blue Circle’s North American operations and restructuring cement assets. Since 2001, he served as both President, North-East Cement region and Senior Vice President, Purchasing. Since 2004, Eric Olsen served as Chief Financial Officer and Senior Vice-President for Lafarge North America, a NYSE traded company.
From 2007 to 2012, he served as Executive Vice President, Organisation and Human Resources of Lafarge Group. In this role, he led the integration of the Egyptian Orascom, a major acquisition with operations in Africa, Middle East and Asia. Eric Olsen also led the 2012 reorganisation of the Group with a focus on country organisation around end-market segments.
Prior to Lafarge, Eric Olsen started his career in the field of M&A at Deloitte & Touche, Banque Paribas and was one of the managing partners of Trinity Associates for 6 years.
He is a business graduate from the University of Colorado, Certified Public Accountant (Chicago, USA), and holds a Master of Business Administration from HEC international business school in Paris.
Eric Olsen is presently a Board Member of Cimpress N.V., chairing its compensation committee and is a member of its audit committee. He is the Chairman of the Board for the American School of Paris.
Holcim is a global leader in the manufacture and distribution of cement and aggregates (crushed stone, gravel, and sand), as well as other activities, including ready-mix concrete, asphalt, and associated services. The company holds majority and minority shareholdings in some 70 countries and on every continent. In 2013, Holcim recorded net sales of over 19.1 billion Swiss francs. Thanks to our market-oriented structures, product innovations, skilled employees and efficient environmental management systems, Holcim is in a strong position now - and for years.
More information is available on Holcim website site: www.holcim.com
A world leader in building materials, Lafarge employs 63,000 people in 61 countries, and posted sales of €12.8 billion in 2014. As a top-ranking player in its Cement, Aggregates and Concrete businesses, it contributes to the construction of cities around the world, through its innovative solutions providing them with more housing and making them more compact, more durable, more beautiful, and better connected. With the world’s leading building materials research facility, Lafarge places innovation at the heart of its priorities in order to contribute to more sustainable construction and to better serve architectural creativity.
This communication does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Lafarge or an offer to sell or exchange or the solicitation of an offer to buy or exchange any securities of Holcim. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Lafarge or Holcim.
This communication contains forward-looking information and statements about Holcim, Lafarge and their combined businesses after completion of the proposed transaction that have not been audited or independently verified. Forward-looking statements are statements that are not historical facts. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations. Although the managements of Holcim and Lafarge believe that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Holcim and Lafarge shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Holcim and Lafarge, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. The combined group may not realize the full benefits of the transaction.