LafargeHolcim announced yesterday that Wolfgang Reitzle, chairman of the Board of Directors, has informed the Board that he will not stand for re-election at the company’s May 2016 AGM. "The Board regrets this decision while acknowledging Mr Reitzle’s wish to pursue other business activities that will require his fullest attention, in particular the chairmanship of the Linde Supervisory Board," the group said in a statement.
Mr Reitzle was instrumental to 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” said Paul Desmarais, chairman of the LafargeHolcim Nomination and Compensation Committee.
Mr. Reitzle commented: “I am satisfied that LafargeHolcim is now fully on track with realising the benefits of the combined businesses. With its committed people and leading position in markets around the globe, LafargeHolcim is well placed to reach its targets.”
The LafargeHolcim Board of Directors has decided to propose to its shareholders the election of Beat Hess as its new Chairman. A Swiss national born in 1949, Mr. Hess 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, he 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, London and The Hague. He is also a member of the Board of Directors of Nestlé SA and of Sonova Holding AG.
Further proposals to the LafargeHolcim AGM will be announced together with the invitation to the meeting.