LafargeHolcim Ltd. appoints Sika veteran to head US Cement

Jamie Gentoso has been named LafargeHolcim, US Cement chief executive officer, replacing John Stull, who recently shifted in the same capacity to the Holcim Philippines business. She arrives at the Chicago-based operator with a solid industry grasp, having started her career as Holcim (US) technical service engineer, then serving as Architectural and Engineering market manager with a focus on ASTM C150 and specialty cements, plus fly ash. Gentoso proceeded to Sika Corp., rising to vice president of Concrete ahead of her most recent position, vice president of Sales & Marketing, with New Jersey-based architectural building products manufacturer Construction Specialties.

Jamie Gentoso

“Jamie has a proven track record in this industry, and her deep-seeded expertise and strong focus on the customer will be valued contributions,” says LafargeHolcim Region Head, North America René Thibault, who oversees US Cement, Lafarge Canada East and West Regions, plus Aggregates & Construction Materials. “We know she will bring strong leadership to the organization, and drive continued growth and success across the Cement business.”

Gentoso holds a master’s degree in Business Administration and a bachelor’s in Civil Engineering from the University of Michigan.

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SETTLEMENT MODERNIZES SIKA GOVERNANCE

The Swiss parent of Sika Corp. has settled a three-and-half-year legal dispute with glass and building materials giant Saint-Gobain of France through transactions involving founding family members’ shares, plus proposed board measures altering governance and share classes. Citing conflict of interest concerns and fiduciary obligations, Sika AG directors contested a late-2014 transfer of the Burkhard family’s stake—equating to 16.1 percent of shares, vested with 52.4 percent of voting rights—to Saint-Gobain. Legal challenges attempting to block Saint-Gobain proceeded through Swiss agencies and the European Commission. Under an agreement announced last month:

• Saint-Gobain has acquired Schenker-Winkler Holding AG, a Burkard entity encompassing Sika shares, for $3.2 billion; sold Sika AG shares representing a 6.97 percent stake for just over $2 billion; and, retained a 10.75 percent Sika AG stake, combining SWH and separately acquired shares.
• Sika will convene a shareholders meeting this month where directors seek approval to cancel shares acquired from Saint-Gobain/SWH, thereby increasing remaining shares’ value; convert all shares to a single class, based on a “one-share, one-vote” principle; and, eliminate stock transfer provisions underpinning Sika’s initial legal challenge.

“This solution is immediately accretive for our shareholders and paves the way for a new chapter of our success story. The introduction of a modern governance structure will provide Sika with a solid base to accelerate its growth,” noted Sika Chairman Paul Hälg and CEO Paul Schuler in a joint statement on the agreement with Saint-Gobain.