Lafarge said on Tuesday that Bruno Lafont, currently group chief operating officer, would become its new chief executive from January 1. Lafont, who has spent all his career at Lafarge, will replace Bernard Kasriel at the helm of the French group. His appointment as CEO was widely expected. Lafont, 49, has been chief operating officer at Lafarge since May 2003 and had responsibility for the company’s business in the north American market.
Earlier this month Lafarge shares fell sharply after the company posted a 17.7 percent fall in its first-half net profit and trimmed back its earnings outlook. Lafarge shares have gained around four per cent since the start of 2005, underperforming a 20 per cent rise in the DJ Stoxx European construction sector over the same period.