Holcim (HOLN.S), a major player in the building materials industry, has revealed plans to spin off its North American business, with intentions to list it in the United States in the first half of 2025. This strategic move, the largest shake-up since Holcim’s acquisition of French rival Lafarge in 2015, will also see the appointment of a new chief executive.
Miljan Gutovic, currently heading Europe at Holcim, is set to assume the role of CEO, succeeding Jan Jenisch, starting from May 1, according to the company, which ranks among the world’s largest cement manufacturers.
The spinoff is expected to be completed by the first half of 2025, while the remaining global business of Holcim will continue to be listed on the Swiss blue-chip SMI index. This segment will prioritize building solutions such as roofing products, as outlined by Holcim.
Jan Jenisch, who has led Holcim since 2017, will retain the position of chairman within the group. He will spearhead the planned U.S. listing, with potential benefits for the company’s valuation.
Characterizing the U.S. as one of the most attractive construction markets globally, Jenisch expressed confidence in capitalizing on the region’s infrastructure and construction boom, aiming to accelerate growth and create value for stakeholders.
