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LafargeHolcim on Monday replaced its chief financial officer (CFO) with an executive from medical technology and electronics maker Philips as the cement giant reshapes its leadership under new CEO Eric Olsen.
LafargeHolcim said Ron Wirahadiraksa would replace departing CFO Thomas Aebischer, who is leaving to pursue opportunities outside the Swiss-French company. It completed its merger in July to form the world's largest maker of building materials.
Wirahadiraksa has been Philips' CFO since 2010, having taken the role from a previous posting as a cost cutter within the company's Asian healthcare business.
The merger of Holcim and Lafarge announced in 2014 to form a company with more than $44 billion in annual sales was billed as a chance to slash costs and trim debt while grappling with soaring energy prices, tougher competition and weaker demand that have hurt the building materials sector since the 2008 economic crisis.
"This change is our CEO's decision and it received the full support of the board," said spokesman Peter Stopfer.
Wirahadiraksa will take over his new role at LafargeHolcim on Dec. 1.
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