CRH to weigh new financial, business models in LafargeHolcim wake

Sources: CRH Plc, Dublin; CP staff

CRH Group Finance Director Maeve Carton will shift to a new assignment in January 2016: Identifying and implementing the optimum financial and business model for the future. Her appointment as group transformation director marks a rare increase in executive headcount for the Oldcastle Inc. parent, which through decades of global growth has confined its headquarters to the historic Belgard Castle near Dublin.

Carton will be responsible for improved shareholder returns by identifying further synergies, efficiencies and cash generation opportunities as the company acquires new businesses. Looming large will be assimilation of Lafarge Group and Holcim Ltd. assets in North America and Europe that CRH has agreed to acquire in a $7 billion-plus transaction, contingent on the mid-2015 closing of a merger creating LafargeHolcim. The acquisition of Holcim (Canada) Inc. and overseas businesses will increase CRH by at least 25 percent, positioning it with $25 billion-plus in worldwide sales.

“This is a key role for the future of CRH. Maeve’s experience and insight into the structures and operations of CRH are invaluable at this time of transformation,” says Group Chief Executive Albert Manifold. A search for her successor will commence shortly, he adds, with an eye toward an appointment by late 2015.

Related article
Oldcastle parent prevails in $7 billion Lafarge, Holcim asset pursuit