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LafargeHolcim CEO on departure: ‘it’s not related’ to Syrian payments

0 67 Economic

by The Associated Press

GENEVA — The CEO of LafargeHolcim, the world’s largest cement maker, says his upcoming departure isn’t related to fallout from its payments to Syrian armed groups allegedly including the Islamic State group.
LafargeHolcim CEO on departure: ‘it’s not related’ to Syrian payments

Eric Olsen told reporters in a conference call about its first-quarter results May 3 that in July he's "going to be leaving a group in great shape."

Recently, LafargeHolcim said an internal investigation found Olsen was unaware it had illegally funneled money to the armed groups in 2013 and 2014 to guarantee safe passage for employees and supply its multimillion-dollar Syria plant.

Of his departure, Olsen said: "I would say it's not related" to the payments. He acknowledged "some tensions" at the company recently and his belief "it was in the best interest to turn the page and move on."

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