Cement group Holcim replaces President due to North American spin-off
The management carousel at Holcim is turning. Chairman of the Board Jan Jenisch is moving to the USA. He is relinquishing his position as Chairman of the parent company and assuming the role of CEO and Chairman of the Board of Directors for the North American business, which is about to be spun off.
10.01.2025, 08:21
SDA
The Board of Directors is proposing Kim Fausing as the new Holcim Chairman, as the building materials group announced on Friday. Born in Denmark, he has been a member of the Board since 2020 and is a member of the Audit Committee. Subject to shareholder approval at the Annual General Meeting on May 14, 2025, Fausing will succeed Jenisch.
Together with Jenisch, the Board of Directors of the North American business is to consist of ten members, the press release explains further. Jenisch will lead the planned stock market listing of the North American business.
The spin-off should be completed by the end of the first half of 2025. Jenisch will remain CEO of Holcim until the Annual General Meeting on May 14.
The move does not come as a complete surprise. When the spin-off of the North American business was announced last January, it was already stated that Jenisch wanted to concentrate on the spin-off and listing of the North American business in addition to his role as CEO.
The other nine members all have extensive management experience in various sectors and "extensive knowledge" of the North American market, according to the press release.
