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Holcim CEO Jenisch to take over as chairman with double mandate

February 24, 2023 at 12:43 am EST

ZURICH (Reuters) -Holcim Chief Executive Jan Jenisch will become the company's next chairman, the world's biggest cement maker said on Friday, after it posted better than expected recurring operating profit for 2022.

Recurring operating profit rose 3% to 4.75 billion Swiss francs, beating forecasts for 4.68 billion francs in a company gathered consensus of analysts.

Separately the Swiss company said it would propose Jenisch, who has been CEO since 2017, as its next chairman to replace Beat Hess who has decided to stand down.

Jenisch would continue as CEO as well as chairman "for a limited duration," the company said.

"The Board of Directors sees this double mandate as a transition period to safeguard Holcim's current transformation and the fast-paced execution of its Strategy 2025," Holcim said.

"This double mandate is for a limited duration and a CEO successor will be announced within the next 12 months," it added.

(Reporting by John Revill, Editing by Rachel More)

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Jan Philipp Jenisch

Mr. Jan Jenisch is a Chief Executive Officer & Director at LafargeHolcim Ltd. He is on the Board of Directors at Lafargeholcim Foundation for Sustainable Construction, Ambuja Cements Ltd., ACC Ltd., LafargeHolcim Ltd. and Glas Trösch Holding AG. Mr. Jenisch was previously employed as a Non-Executive Director by Schweiter Technologies AG, a General Manager by Sika Tivoli GmbH, a Managing Director by Sika Automotive Belgium, and a Chief Executive Officer by Sika AG. He received his undergraduate degree from the University of Fribourg and an MBA from the University of Fribourg.

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