Holcim shareholders approved all of the Board of Directors’ proposals at the Annual General Meeting that took place in Zug today. The Board appreciates the strong support of its shareholders on its governance leadership changes with Jan Jenisch voted in as Chairman with 96.72% and Lead Independent Director Hanne Sørensen with 94.40%. Endorsing Holcim’s climate action and upgraded targets, shareholders strongly supported the Group’s second Climate Report with a 95.75% advisory vote in favor.
Beat Hess, Chairman of the Board: “It was an immense pleasure to welcome Holcim’s shareholders today at our Annual General Meeting in Zug, and to be meeting again in person. I sincerely thank our shareholders for their trust and support during my 13 years on the Board, and the most valued confidence they placed in me for the last seven years as Chairman. It has been my privilege to serve Holcim and its passionate team of 60,000 people making sustainable building happen around the world. I am deeply proud of the strong company Holcim is today, a global leader in innovative and sustainable building solutions. At this moment of transition, I wish Jan and the entire Holcim family much continued success.”
The Board sincerely thanks Beat Hess for his outstanding leadership. Throughout his tenure, Beat played an instrumental role in ensuring Holcim’s successful transformation while confidently steering the company through challenging times.
Shareholders confirmed the proposed distribution of a dividend of CHF 2.50 per registered share of Holcim Ltd from the capital contribution reserves. Shareholders also approved the cancellation of up to 40 million registered shares repurchased under the share buyback program that was announced in October 2022.
All members of the Board standing for re-election have been confirmed in office. The Board of Directors now consists of the following members: Jan Jenisch (Chairman), Hanne Sørensen (Vice Chairwoman and Lead Independent Director), Philippe Block, Kim Fausing, Leanne Geale, Naina Lal Kidwai, Ilias Läber, Jürg Oleas and Claudia Sender Ramirez.
Shareholders also confirmed all members of the Nomination, Compensation & Governance Committee: Ilias Läber, Jürg Oleas, Claudia Sender Ramirez and Hanne Sørensen. Ms. Sørensen will continue to serve as Chairwoman.
Shareholders approved the annual report and annual financial statements of the Group and of Holcim Ltd as well as the revision of the Articles of Incorporation. They also approved the compensation report in an advisory vote. In two separate binding votes shareholders approved the maximum overall amount of compensation to be paid to members of the Board for the period between the 2023 and 2024 Annual General Meetings as well as the total maximum amount of compensation to be paid to members of the Executive Committee for the 2024 financial year.
The shareholders granted discharge to the members of the Board and the persons entrusted with management during the financial year 2022.
Ernst & Young Ltd has been appointed as auditors for the financial year 2023.
The full results of the Annual General Meeting and speeches from the Chairman and CEO will be available here as of 5 May 2023.
Holcim is a global leader in innovative and sustainable building solutions with net sales of CHF 29.2 billion in 2022. Driven by its purpose to build progress for people and the planet, its 60,000 employees are on a mission to decarbonize building, while improving living standards for all. The company empowers its customers across all regions to build better with less, with its broad range of low-carbon and circular solutions, from ECOPact to ECOPlanet. With its innovative systems, from Elevate roofing to PRB’s insulation, Holcim makes buildings more sustainable in use, driving energy efficiency and green retrofitting. With sustainability at the core of its strategy, Holcim is becoming a net-zero company with 1.5°C targets validated by the Science Based Targets initiative (SBTi).
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Important disclaimer – forward-looking statements:
This document contains forward-looking statements. Such forward-looking statements do not constitute forecasts regarding results or any other performance indicator, but rather trends or targets, as the case may be, including with respect to plans, initiatives, events, products, solutions and services, their development and potential. Although Holcim believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions as at the time of publishing this document, investors are cautioned that these statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are difficult to predict and generally beyond the control of Holcim, including but not limited to the risks described in the Holcim's annual report available on its website (www.holcim.com) and uncertainties related to the market conditions and the implementation of our plans. Accordingly, we caution you against relying on forward-looking statements. Holcim does not undertake to provide updates of these forward-looking statements.