The board of directors at Holcim has appointed Miljan Gutovic as chief executive; he will succeed current incumbent, Jan Jenisch in May this year.
Following the succession, Jenisch will focus on his role as chairman, and will stand for re-election at the company’s AGM in May. The board has also tasked him to lead the planned US listing of Holcim’s North American business.
Gutovic, an Australian national, has been a member of the group executive committee since 2018. He served as head of the region Middle East and Africa, followed by the region Europe, and operational excellence.
Under his leadership, Holcim says it has strengthened its market positions while delivering industry-leading margins and making decarbonisation a driver of profitable growth.
Jenisch said: “I am very pleased that the board has appointed Miljan as the new CEO of Holcim. He is a highly qualified successor who has played an instrumental role in Holcim’s successful transformation to become the leader in innovative and sustainable building solutions.
“Miljan has strengthened our business with record profitability in Europe, closing strategic transactions and building winning teams.
“I am honoured to stand for re-election as the chairman of the board, and to lead the planned US listing of Holcim’s North America business. I will continue to dedicate all my efforts to the future of Holcim and all our stakeholders.”
Gutovic added: “I thank the board of directors for trusting me to lead Holcim into its next chapter of success. As a civil engineer who is passionate about the construction industry, Holcim is the best company to be part of. With decarbonisation and advanced technologies transforming how we build, there has never been a more exciting time for our sector. I look forward to working with the Holcim teams around the world to advance our leadership.”
The plan to list its North American business in the US with a full capital market separation will create a “leading pure-play building solutions company in the region”, Holcim says.
As a newly listed business, it will be committed to driving long-term growth in the rapidly expanding North American market, and unlocking value for all its stakeholders.
Holcim, post-US listing of North America, is expected to remain included in the Swiss Market Index, and the leader in innovative and sustainable building solutions.
Jenisch said of the venture: “Holcim has reached a new level of financial performance, and a superior earnings profile with industry-leading margins and a strong balance sheet. The success of our North American business makes it the leading pure-play building solutions company in the region.
“With a US listing, we will unleash its full potential to be the partner of choice for our customers in one of the world’s most attractive construction markets. As we fully capitalise on the region’s infrastructure and construction boom, we will accelerate growth and unlock value for our stakeholders.
“Holcim post US listing of North America will further advance its leadership in innovative and sustainable building solutions. With decarbonisation and M&A as drivers of profitable growth, the company will continue to deliver leading margins and attractive shareholder returns.
“This next step of growth and value creation is possible thanks to the outstanding leadership of our empowered teams around the world delivering record results year after year.”
Main image: Miljan Gutovic. Credit: Holcim
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