Italcementi buy spurs HeidelbergCement board change

HeidelbergCement said two management board members would leave and one new board position would be created to reflect changes to the group when it buys Italcementi, reports Reuters.

Daniel Gauthier, 58, and Andreas Kern, 57, will not have their contracts extended when they expire on June 30, 2016, HeidelbergCement said in a statement on Thursday.

The company said Hakan Gurdal, Jon Morrish and Kevin Gluskie would join the board. Morrish and Gluskie are senior managers in the group, while Gurdal is a manager at Turkey’s Sabanci Holding , with which HeidelbergCement has a joint venture.

HeidelbergCement prides itself on a culture of elevating company veterans to top positions. “The new appointments to the managing board stand for a generation change and are also a sign of continuity in the top management of the company,” it said.

Gauthier is currently responsible for western and southern Europe excluding Germany, while Kern heads eastern Europe, Central Asia and Germany as well as sales and marketing.

Gurdal, 47, will take over the newly created position of head of the Africa-Eastern Mediterranean Basin. Morrish, 45, will head North America and Gluskie, 48, will head Asia-Pacific.

HeidelbergCement agreed to buy Italcementi in July in a deal valuing its smaller Italian rival at $7.6 billion.
Source

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