Holcim publishes agenda for 2023 Annual General Meeting
- The Board of Directors proposes dividend of CHF 2.50 per registered share, up 14% following record 2022 performance
- The Board of Directors proposes CEO Jan Jenisch as Chairman
- Second Climate Report submitted for advisory vote, giving shareholders a say on company’s climate-related matters
The Holcim Annual General Meeting (AGM) will take place on 4 May 2023 at 10am CEST at Bossard Arena in Zug, Switzerland. After three years of holding its AGM without the presence of shareholders due to COVID restrictions, the Board of Directors looks forward to welcoming shareholders again in person. The AGM, which is held in German and partially in English, will also be broadcast live and translated simultaneously into German, English and French at www.holcim.com/agm.
The invitation, including information on voting procedures and all individual agenda items, is available at www.holcim.com/agm.
Dividend proposal
The Board of Directors proposes a dividend of CHF 2.50 per registered share of Holcim Ltd, a 14% increase over the prior year, following Holcim’s record 2022 performance. If approved by shareholders, the dividend will be paid out of foreign capital reserves from tax capital contributions and is not subject to Swiss withholding tax.
Board of Directors changes
The Board of Directors proposes Jan Jenisch as Chairman at the Annual General Meeting. Subject to the vote, Jan Jenisch will serve as Chairman and continue as CEO of Holcim for a limited duration. The Board of Directors sees this as a transition period to safeguard Holcim’s current transformation and the fast-paced execution of its Strategy 2025 – Accelerating Green Growth. Jan Jenisch’s successor as CEO will be announced within the next 12 months.
To continue strong independent checks and balances, the Board has created a Lead Independent Director role, entrusting Hanne Sørensen, Holcim’s Vice Chairperson, with this responsibility. As Lead Independent Director, Hanne Sørensen will ensure continued strong governance and a successful CEO succession, while supporting Holcim’s fast-paced transformation. Subject to shareholder election to the Nomination, Compensation & Governance Committee, she will continue to chair this committee.
All Board members are proposed for re-election apart from Beat Hess and Patrick Kron, who have decided not to seek re-election. With the exception of the designated Chairman, all Board members are Independent Directors. The designated Chairman will not be a member of any committees.
The Board sincerely thanks Beat Hess for his outstanding leadership as Chairman for the past seven years. During his tenure, he confidently led the company through challenging times and played an essential role in steering Holcim’s successful transformation. With this year’s record results, Beat Hess leaves the company in a strong position for long-term success. The Board also thanks Patrick Kron who, especially in his service to the Audit Committee, has been instrumental in securing the company’s strong financial foundations.
Climate Report
In line with Holcim’s commitment to lead its sector’s transition to net zero, the Board of Directors has submitted the company’s second Climate Report for an advisory vote, reflecting the company’s commitment to give its shareholders a say on the company’s climate-related matters. The Climate Report was published on 31 March 2023.
Accelerating climate action, Holcim reduced its CO2 per net sales by 21% in 2022 and commits to reduce by over 10% in 2023. The 2023 Climate Report includes Holcim’s upgraded 2030 targets aligned with the 1.5°C framework and validated by the Science Based Targets initiative. Making progress in carbon capture utilization and storage, Holcim commits to invest a cumulative CHF 2 billion by 2030 in mature technologies to capture more than 5 million tons of CO2 per year. Accelerating its net zero ambition, Holcim aims to reach 420 kg CO2 per ton of cementitious material by 2030. Driving circular construction across its business, Holcim recycled 6.8 million tons of construction and demolition waste into new building solutions, on track to exceed the 2025 target of 10 million tons.
About Holcim
Holcim is a global leader in innovative and sustainable building solutions. 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’s 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).
Learn more about Holcim on www.holcim.com, and by following us on LinkedIn.
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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.
