LafargeHolcim CE to exit after inquiry into Syria scandal
One of the cement maker’s plants probably paid protection money to armed groups in Syria to keep the factory running
Zurich — LafargeHolcim is close to announcing its CE Eric Olsen is to step down following an internal investigation into activities at a former Lafarge cement plant in Syria, according to the Financial Times on Sunday, citing sources close to the company. LafargeHolcim declined to comment on the FT report. The cement maker in March said one of its cement plants probably paid protection money to armed groups in Syria to keep the factory running. The disclosure followed an internal investigation and highlighted the dilemmas companies face when working in conflict zones. LafargeHolcim is expected to announce the findings of its internal investigation shortly. Olsen was formerly an executive at French industrial group Lafarge, which completed its merger with Swiss group Holcim in 2015. LafargeHolcim has said the deteriorating political situation in Syria had posed "very difficult challenges for the security and operations of the plant and its employees". The site was an important source...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.