Two senior directors of Swiss cement giant Holcim have joined the ACC board, India’s second largest cement maker, on Friday following the acquisition of 34.7 per cent stake in ACC by Holcim. Markus Akermann, CEO, member of board of directors and Paul Hugentobler, member of executive committee, were appointed additional directors of ACC, taking the board strength to 14.
Ambuja Cement India, which is majority-owned by Holcim and owns 34.7 per cent in ACC post-open offer, will thus, in all, have four representatives on the ACC board. Gujarat Ambuja Cements’ managing director Narotam S Sekhsaria continues as the deputy chairman of ACC, while AL Kapur, a whole-time director of GACL, is a non-executive director. ACC has two executive members in managing director ML Narula and whole-time director AK Jain.