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Holcim unveils new CEO and US listing plans

Holcim

Holcim has revealed that Miljan Gutovic will take over as chief executive from Jan Jenisch in May.  

The announcement comes as Jenisch has been tasked with leading the US listing of Holcim’s North American business. Jenisch will remain as chairman and stand for re-election at the annual general meeting in May.  

“I am very pleased that the Board has appointed Miljan as the new CEO of Holcim. He is a highly qualified successor who has played an instrumental role in Holcim’s successful transformation to become the leader in innovative and sustainable building solutions,” Jenisch said. 

“Miljan has strengthened our business with record profitability in Europe, closing strategic transactions and building winning teams.” 

Gutovic, who hails from Australia, has been on Holcim’s group executive committee since 2018, alongside previous roles as Head of the Region Middle East and Africa, followed by the Region Europe and Operational Excellence.  

The University of Technology Sydney graduate, with degrees in civil engineering and a PhD in material sciences and engineering, said he was humbled by the opportunity.  

“As a civil engineer who is passionate about the construction industry, Holcim is the best company to be part of. With decarbonization and advanced technologies transforming how we build, there has never been a more exciting time for our sector,” Gutovic said. 

“I look forward to working with the Holcim teams around the world to advance our leadership.” 

Holcim has announced its intent to list its North American business with a full capital market separation.  

The company said the newly listed business will help drive long-term growth in the rapidly expanding North American market with a “pure-play” building solutions company.  

According to Holcim, the listed North American business will be the leading pure-play building solutions company in the region, with an estimated EBITDA1 margin of more than 27 per cent for 2023. It estimates the North American business will execute an accelerated growth strategy to achieve more than USD $20 billion in net sales and more than USD $5 billion in EBIT with industry-leading margins by 2030. 

“Holcim has reached a new level of financial performance and a superior earnings profile with industry-leading margins and a strong balance sheet,” Jenisch said.  

“With a US listing, we will unleash its full potential to be the partner of choice for our customers in one of the world’s most attractive construction markets. 

“This next step of growth and value creation is possible thanks to the outstanding leadership of our empowered teams around the world delivering record results year after year.” 

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