To succeed Eric Olsen, who resigned after the case of payments syrians, the giant of construction materials LafargeHolcim has chosen Jan Jenisch, the current general manager of Sika. “A leader highly respected” whose appointment has been welcomed in the financial markets.
He led the group of specialty chemicals Sika since January 2012 and it will make re-entry in the course of very large, October 16. Jan Jenisch, the current director general of the swiss group, has been selected to take the result of Eric Olsen, the head of LafargeHolcim, the giant franco-swiss construction.
- The saga of the Saint-Gobain Sika can still last until June 2017
The chairman of the board of directors, Beat Hess, details : “Jan Jenisch is a leader highly respected for its ability to generate excellent results on a regular basis“. He also hoped that the director-general will bring with him “a thorough knowledge of the materials sector of the construction“. Under its mandate, Sika has actually enjoyed a period of strong growth, developing new markets, and by tripling its market value, which has allowed the group entry in the SMI index in switzerland. He has also held head, for two years, another giant in the industry – Saint-Gobain – launched in a bid judged to be hostile by the board of directors.
LafargeHolcim wins, but Sika ?
- LafargeHolcim recognizes payments unacceptable in Syria
- LafargeHolcim is improving its earnings despite a decline in sales
The financiers have welcomed this next arrival : the title LafargeHolcim jumped +7 % in the hours that followed, when the market was stable. For the AFP, an analyst at Bryan Garnier said that the fact that he is from neither of Lafarge or Holcim, “is probably an advantage in the current situation“, namely, the scandal of payments of rights-of-way to armed groups in Syria.
Sika, for its part, has already chosen the successor of Jan Jenisch, in the person of Paul Schuler, current regional director for the Europe-Middle East-Africa. They will form a tandem to be effective July 1, 2017, to prepare for the transition, during the three and a half months that will follow. The career of Jan Jenisch was, until then, intimately related group of specialty chemicals, where he spent 29 years. Investors, aware of this profound change for Sika, has also relinquished some of their titles : the action was down -3,48 % in 17 hours. Saint-Gobain could he enjoy it ?