Holcim appoints new CEO

Bernard Fontana, CEO of steel producer Aperam, is to take over as CEO of cement producer Holcim in February, 2012.

Mr Fontana replaces current Holcim CEO Markus Akermann, who is set to retire at the end of January next year.

Chairman of Holcim's board of directors Rolf Soiron said Mr Fontana had many years of international experience in a sector comparable to the construction materials industry.

"[Mr Fontana] has a true track record in corporate leadership as well as in central group functions such as HR and sustainable development," Mr Soiron said.

Aperam was set up in 2010 as a Luxembourg-based spin-off of global steel producer ArcelorMittal. The company, which produces high-grade steel for European and international markets, generated annual sales of US$5.6 billion (€4.1 billion) in 2010.

Mr Akermann began his career at Holcim in 1978, and was made CEO in 2002. The cement manufacturer has been impacted by rising raw materials costs over the last year, and reported a 19% drop in its first half profits for 2011 to CHF1.9 billion (€1.6 billion).