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LafargeHolcim shareholders approve board motions

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World Cement,

LafargeHolcim shareholders approved all of the motions proposed by the board of directors at the recent annual general meeting. Motions included the approval of the annual report and annual financial statements of the group and LafargeHolcim Ltd, as well as an advisory vote on executive compensation and a dividend of CHF2 per share.

“In two separate votes shareholders approved the maximum overall amount of compensation paid to members of the board for the period between the 2018 and 2019 annual general meetings, and the maximum overall amount of compensation paid to members of the executive committee for the 2019 financial year,” the company said in a statement.

Under those votes, the total compensation for the executive committee will remain unchanged at a maximum CHF39.5 million for the 2019 financial year – although there were some adjustments to the incentive plants. The proportion of annual incentive that relates to financial performance will increase to 85%, while a relative performance measure that compares the financial performance of LafargeHolcim to a group sector peers will be introduced. Other adjustments will also support the delivery of the company’s Strategy 2020 – Building for Growth plan.

The CHF39.5 million assumes the outperformance by all members of the executive committee of all targets; on-target performance would result in total compensation for the executive committee of CHF26.2 million.


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In addition, shareholders confirmed Beat Hess as Chairman of Board of Directors, as well as Paul Desmarais Jr., Oscar Fanjul, Patrick Kron, Gérard Lamarche, Adrian Loader, Jürg Oleas, Nassef Sawiris, Hanne Birgitte Breinbjerg Sørensen and Dieter Spälti as directors.

In a final tweak to corporate governance, it was announced that representatives of large shareholders will no longer be appointed to chair board committees. This saw a change at the Finance and Audit Committee, where Patrick Kron will now serve as chairman, as well as the Nomination, Compensation and Governance Committee, where Oscar Fanjul will serve as chairman.

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LafargeHolcim news Cement news 2018