LafargeHolcim is a big name in the cement manufacturing sector which has its presence in more than 90 countries with employee strength of 115,000 employees across the globe. News circulated across all media channels about acceptance by LafargeHolcim of paying protection money to the Army groups to keep their operations active in the Northern Syria plant at Jalabiya. Also, an announcement was made about Eric Olsen, the chief executive officer leaving the company in July. Both these news were announced during a conference on Monday. Although Eric Olsen was given a clean chit from the internal inquiry committee of the company in the bribery case stating that he wasn’t aware of any such activity under his supervision.
Olson was appointed as the Chief Executive officer after the merger of the Lafarge and Holcim which had combined net sales revenue of CHF 33 billion during the merger. Lafarge and Holcim merged with an intention to save$1.9 billion annually and become the largest producer of cement in the world. Olsen who has a dual citizenship for both France and the US said that he was not aware of any unethical or illegal activity been executed under his supervision and he himself didn’t initiate or supported any such activity. In fact, he expects that his exit would provide the company with the stability that the company is missing currently.
After the disclosure of this unethical and illegal activity was unveiled by the internal committee, two human rights group filed a case against Lafarge of actively involved in funding the war activities and supporting financially to the Islamic states. According to the spokesperson at Lafarge, the company has invested heavily in the setup and it cost than $680 million. The employees deployed at the Syrian local employees and the management considered this as their moral responsibility to keep the plant working at the cost of giving protection money to the army people.
LafargeHolcim has seen a lot of management changes after the merger and has been very strict in relation to the corporate governance policies of the company. Beat Hess would handle the responsibilities of Eric Olsen after the departure as an Interim CEO. Jacob Waerness, A risk manager of Lafarge accepted that they company was very well aware of the critical situations and Syria and should have left the company in mid-2013 when the Islamic radicalism group tried to capture the area surrounding the cement company. But the Syrian Government and Kurdish military group wanted the plant to be active and operating.
Daniel is acting editor of Talk Herald with over two years of experience in the field of online news under his belt. Daniel has worked with multiple media houses and is currently leading a team of journalists, sub-editors, and writers through his entrepreneurial endeavors.
Your email address will not be published. Required fields are marked *
Notify me of follow-up comments by email.
Notify me of new posts by email.
United StatesCanadaMexicoUnited Kingdom-----AfghanistanAlbaniaAlgeriaAmerican SamoaAndorraAngolaAnguillaAntigua and BarbudaArgentinaArmeniaArmeniaArubaAustraliaAustriaAzerbaijanAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBoliviaBonaireBosnia and HerzegovinaBotswanaBouvet Island (Bouvetoya)BrazilBritish Indian Ocean Territory (Chagos Archipelago)British Virgin IslandsBrunei DarussalamBulgariaBurkina FasoBurundiCambodiaCameroonCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongoCongoCook IslandsCosta RicaCote d'IvoireCroatiaCubaCuraçaoCyprusCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuamGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard Island and McDonald IslandsHoly See (Vatican City State)HondurasHong KongHungaryIcelandIndiaIndonesiaIranIraqIrelandIsle of ManIsraelItalyJamaicaJapanJerseyJordanKazakhstanKazakhstanKenyaKiribatiKoreaKoreaKuwaitKyrgyz RepublicLao People's Democratic RepublicLatviaLebanonLesothoLiberiaLibyan Arab JamahiriyaLiechtensteinLithuaniaLuxembourgMacaoMacedoniaMadagascarMalawiMalaysiaMaldivesMaliMaltaMarshall IslandsMartiniqueMauritaniaMauritiusMayotteMicronesiaMoldovaMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNetherlands AntillesNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorthern Mariana IslandsNorwayOmanPakistanPalauPalestinian TerritoryPanamaPapua New GuineaParaguayPeruPhilippinesPitcairn IslandsPolandPortugalPuerto RicoQatarReunionRomaniaRussian FederationRwandaSaint BarthelemySaint HelenaSaint Kitts and NevisSaint LuciaSaint MartinSaint Pierre and MiquelonSaint Vincent and the GrenadinesSamoaSan MarinoSao Tome and PrincipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint Maarten (Netherlands)Slovakia (Slovak Republic)SloveniaSolomon IslandsSomaliaSouth AfricaSouth Georgia & S. Sandwich IslandsSpainSri LankaSudanSurinameSvalbard & Jan Mayen IslandsSwazilandSwedenSwitzerlandSyrian Arab RepublicTaiwanTajikistanTanzaniaThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkeyTurkmenistanTurks and Caicos IslandsTuvaluU.S. Virgin IslandsU.S. Minor Outlying IslandsUgandaUkraineUnited Arab EmiratesUruguayUzbekistanVanuatuVenezuelaVietnamWallis and FutunaWestern SaharaYemenZambiaZimbabwe
Global High Performance Apparel Market Size 2018: Lululemon, Adidas, VF, Nike, Under armour and Columbia
Global Brake Linings Market Insights by 2023: Bendix, ICER, Brake and Sangsin
Global Workwear/Uniforms Market Growth Outlook by 2023: UniFirst, Cintas, Carhartt and Aramark
Global Formwork Market Growth Outlook by 2023: BEIS, Doka, Acrow, Alsina and ULMA
Global Polyetheramine Market Growth Outlook by 2023: Ltd, Wuxi Acryl Technology Co., BASF SE, Yangzhou Chenhua New Materials Co.Ltd and Clariant
Global Pipelay Vessel Market Insights by 2023: DSME, ZPMC, HHI and Keppel Singmarine
Global Metal Ceilings Market Insights by 2023: Rockfon, OWA, SAS International and Hunter
Global Automotive Heat Exchanger Market Current and Future Prospect by 2023: Denso, Calsonic Kansei, Mahle, Valeo and Hanon System
Global Guerbet Alcohols Market Insights by 2023: Evonik Industries, BASF, Sasol and Jarchem Industries
Global Cystoscope Market Current and Future Prospect by 2023: Richard Wolf, Schoelly, Hoya, Olympus and Stryker
Global Tire Mold Market Size, Share 2018: Anhui Wide Way Mould, Himile, SeYoung TMS and Greatoo
Global Biochar Market Growth by 2023: Agri-Tech Producers, Biochar Now, Diacarbon Energy and Carbon Gold
Global Indoor Bike Trainers Market Growth Outlook by 2023: Tacx, Technogym, Elite and Precor
Global Benefits Administration Software Market Insights by 2023: ADP, Workday, Benefitfocus and WEX Health
Global Grouting Material Market Size, Share 2018: Custom Building Products, ITW Wind Group and GCP Applied Technologies
Global FPC Market Insights by 2023: Nippon Mektron, Flexium, ZDT, SEI, Fujikura and MFLEX
Global Biologics and Biosimilars Market Forecast, Trends 2018-2023: Sanofi-Aventis, Johnson & Johnson, Roche, Amgen and AbbVie
Global Video Wall Market Growth by 2023: Barco, Daktronics, Planar, Lighthouse and Christie
Global Airbag Market Forecast 2018-2023: ZF TRW, KSS, Toyoda Gosei, Takata and Autoliv
Global Melatonin Market Insights by 2023: Pharmavite, Nature’s Bounty, Natrol and Jameison
Global Face Recognition Systems Market Growth Outlook by 2023: Gemalto, Safran Group, NEC Corporation and Ayonix
Global Vector Network Market Current and Future Prospect by 2023: Advantest, Anritsu, Rohde & Schwarz and Keysight Technologies
Global Cardiopulmonary Autotransfusion System Market Size 2018: Haemonetics, Medtronic, LivaNova and Fresenius Kabi
Global Luggage Market Size 2018: Samsonite International S.A, Tumi Holdings, VF Corporation and VIP Industries
Global Alpha Lipoic Acid (ALA) Market Insights by 2023: Tonghe, Fushilai Pharmaceutical, Shyndec and Maidesen
COPYRIGHT - 2017 JOURNALISM DAY