Switzerland’s Holcim to spin off North American business, picks new CEO By Reuters

© Reuters. FILE PHOTO: The logo of Swiss cement maker Holcim is seen at its headquarters in Zug, Switzerland October 26, 2022. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) – Holcim (SIX:) will spin off its North American business, which it plans to list in the United States in the first half of 2025, the building materials giant said on Sunday, adding that it would also appoint a new chief executive.

Miljan Gutovic, currently head of Europe at Holcim, will replace Jan Jenisch as CEO beginning May 1, the company said.

The move is the biggest shake-up at Holcim since the Swiss company took over French rival Lafarge in 2015.

The maker of cement, aggregates, concrete and roofing systems said it planned to completed the spin off in the first half of 2025.

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