New chairman for LafargeHolcim

Beat Hess nominated to succeed Wolfgang Reitzle who will not be standing for re-election in 2016

IT has been announced that Wolfgang Reitzle, chairman of LafargeHolcim’s board of directors, will not be standing for re-election at the company’s AGM in May 2016.

In a statement, the board of directors said that while it regretted Mr Reitzle’s decision, it acknowledged his wish to pursue other business activities, in particular the chairmanship of the Linde supervisory board.

Mr Reitzle is widely regarded as having been instrumental in the successful merger between Lafarge and Holcim in 2015.

‘Wolfgang Reitzle’s contribution to bringing the two groups together, and to creating the new leader in the building materials industry, has been invaluable,’ commented Paul Desmarais, chairman of the LafargeHolcim Nomination and Compensation Committee.

Mr Reitzle said: ‘I am satisfied that LafargeHolcim are now fully on track with realizing the benefits of the combined businesses. With their committed people and leading position in markets around the globe, LafargeHolcim are well placed to reach their targets.’

LafargeHolcim’s board of directors is to propose to shareholders the election of Beat Hess as the company’s new chairman.

A Swiss national, Mr Hess (pictured) is currently vice-chairman of the board, a member of the Strategy & Sustainable Development Committee and a member of the Finance & Audit Committee. He was elected to the board of directors of then Holcim Ltd in 2010.

From 1977 to 2003, Mr Hess was legal counsel and later general counsel of the ABB Group. From 2004 until the end of 2010, he was legal director and a member of the Executive Committee of the Royal Dutch Shell Group.

He is also a member of the board of directors of Nestlé SA and of Sonova Holding AG.