New management team for American construction business presented
Holcim has appointed its Chairman of the Board of Directors Jan Jenisch as President and CEO designate of the planned company in the USA. The head of Danfoss, Kim Fausing, will be proposed in his place as the new Chairman of the Board of Directors of Holcim.
The building materials producer Holcim, headquartered in Zug, will fully spin off its subsidiary in the United States and list it on the New York Stock Exchange as Holcim United States. According to a press release, Jan Jenisch has been appointed President and CEO designate of the planned company. Jenisch is currently Chairman of the Board of Directors of Holcim and will lead the planned IPO in New York. He was CEO of Holcim from 2017 to 2024 and will serve as Chairman of the Board of Directors until Holcim’s Annual General Meeting on 14 May. According to a further press release, Kim Fausing has been proposed as his successor. The Dane has been a member of the Board of Directors since 2020 and President and CEO of the Danish Danfoss Group since 2017.
In view of the planned stock market listing of the North American business, Holcim has also appointed the future members of the Board of Directors. The Board of Directors will consist of ten members and will come into effect following the completion of the planned spin-off at the end of the first half of 2025, subject to shareholder approval and customary approvals, the company said in a statement. “Today we reach an important milestone on the way to listing Holcim’s North American business as an independent company,” Jan Jenisch is quoted as saying.
In addition to Jenisch, the Holcim Board of Directors has also appointed nine independent members to the Board of Directors of the American company: Theresa Drew, Nicholas Gangestad, Dwight Gibson, Holli Ladhani, Michael E. McKelvy, Jürg Oleas, Robert S. Rivkin, Katja Roth Pellanda and Cristina A. Wilbur. The future members are highly experienced executives with in-depth expertise in key sectors such as construction, manufacturing, industrial operations and financial services, according to the Holcim press release.