LafargeHolcim CEO Eric Olsen Out Amid Ongoing Syria Controversy, but No Impact to FVE
In March, LafargeHolcim announced that its internal investigation had confirmed allegations that it had paid sanctioned armed groups in Syria to guarantee the safety of its factory and its workers as the country descended into civil war in 2013 and 2014. Following an extended investigation, on April 24, LafargeHolcim CEO Eric Olsen announced his resignation, effective July 15. While Olsen is the highest-profile casualty as the French government continues its investigations, the company specified...LafargeHolcim is a producer of cement and aggregates. Co. also supplies ready-mix concrete, concrete products, asphalt and a range of services. Co. operates through three segments: cement, aggregates, and other construction materials and services. Co.'s cement segment provides a range of cementitious materials and also develops customized blends for special applications. Through its aggregates segment, Co. produces aggregates which include crushed stone, gravel and sand mainly used in the manufacture of ready-mix concrete, concrete products and asphalt, as well as for road building and railway tracks, with production centered on quarrying, preparing and sorting the raw material.
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