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McGarry proposed as new Holcim director

Michael H. McGarry has been proposed as the new independent member of the Holcim board of directors.

The former chairman and chief executive of PPG Industries will stand for election at Holcim’s annual general meeting on May 8.  

“With the proposed nomination, the Holcim board will comprise ten members, nine of whom are independent according to the Swiss Code of Best Practice for Corporate Governance and the criteria laid out by the DJSI,” the company said in a statement. 

“Holcim continually strengthens its Board to ensure it includes diverse backgrounds, experience and expertise in all key areas relevant to its business.”  

Jan Jenisch is Holcim’s current chief executive and chairman. Image: Holcim

McGarry served PPG Industries as chairman and chief executive from 2016-22 and executive chairman in 2023 after originally joining as an engineer in 1981. PPG Industries recorded net sales of $18.2 billion in 2023.  

It comes as Holcim heralded record results from 2023, which led to it achieving its Strategy 2025 ahead of plan, according to its press release.  

“With record results in 2023, Holcim is stronger than ever, achieving Strategy 2025 two years ahead of plan. Thanks to our empowered and accountable performance culture, our 63,448 colleagues worldwide went above and beyond to deliver advanced branded solutions for our customers,” chairman and chief executive Jan Jenisch said.  

“Through our disciplined M&A approach for superior value creation, Holcim delivered 97 value-accretive transactions since 2018, including six major acquisitions in Solutions and Products and 72 bolt-ons, of which 80% were family-owned companies bringing significant synergy upside, while closing 19 divestments.”  

It comes after the company named Miljan Gutovic as its new chief executive in January. 

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