Lafarge Appoints Eric Olsen Chairman And CEO

(RTTNews) - French cement company Lafarge SA (LFGEF.PK, LFRGY.PK) on Friday said that following the successful results of the public exchange offer and in accordance with the agreements to create LafargeHolcim, Eric Olsen is appointed chairman, chief executive officer and director of Lafarge SA, replacing Bruno Lafont on these positions from this date.

Currently, Eric Olsen is also CEO of LafargeHolcim (listed in Switzerland and in France); he is also member of the Supervisory Board of Cimpress NV (listed in the Netherlands).

Acknowledging Bruno Lafont's contribution to the development of Lafarge for more than 30 years, including 20 years as a member of the Executive Committee and 10 years at the head of the Group, the Lafarge board members unanimously recognized his role in the success of the merger.

The company said that Lafont's presence as co-chairman of the board of LafargeHolcim will be a key driver for the success of LafargeHolcim and an additional advantage for the successful integration of the two groups. Furthermore, the board has designated Bruno Lafont as honorary chairman of Lafarge SA.

Meanwhile, Swiss cement company Holcim Ltd (HCMLY.PK) confirmed that Bernard Fontana will step down as CEO when the merger with Lafarge SA is completed this month, following which Eric Olsen will head LafargeHolcim..

The two companies had agreed in April that Fontana would resign as Holcim CEO once the $47 billion merger is completed.

Recently, the French market authority said Holcim's public exchange offer for Lafarge had been successful, with 87.46% of Lafarge's share capital, representing 81.47% of voting rights, offered by shareholders fulfilling the conditions for the linkup to go ahead.