LafargeHolcim CE quits over Syria row
Eric Olsen says he was not involved, but will step down in July after firm admits it paid armed groups to keep a factory open in war-ravaged country
Zurich — LafargeHolcim CEO Eric Olsen will leave the company in July after the world’s largest cement maker admitted on Monday it had paid armed groups to keep a factory operating in war-ravaged Syria. An independent internal inquiry found protection payments made to intermediaries to keep open the Jalabiya plant in northern Syria were not in line with its policies. "Significant errors of judgment were made that contravened the applicable code of conduct," the company said, while adding that Olsen was not responsible for any wrongdoing identified in the review. Olsen, who has headed the company since it was created by a merger two years ago, said he was resigning with effect from July 15. "While I was absolutely not involved in, nor even aware of, any wrongdoing, I believe my departure will contribute to bringing back serenity to a company that has been exposed for months on this case," Olsen, who has dual French and US nationality, said in a statement. French prosecutors are also i...
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