HOLCIM Philippines, Inc. has appointed the former chief of LafargeHolcim’s cement operations in the United States as its new president and chief executive officer.
The listed cement manufacturer announced on Monday the appointment of John Stull, replacing Sapna Sood who recently resigned from her leadership post in the country.
“I am delighted to join Holcim Philippines at this exciting but challenging time. As the market adapts and becomes faster paced, the company needs to be well positioned to play a key role in the future development of the country with innovative and customer-focused solutions,” Mr. Stull was quoted as saying in a statement.
Prior to taking over the Philippine operations, Mr. Stull handled the group’s US operations involving more than 3,200 employees, 13 cement and grinding plants, and more than 100 cement terminals.
Mr. Stull also served as the president and CEO of Lafarge USA before its merger with the Holcim group in 2015. Here, the newly minted Philippine chief supervised the formation of a new company structure that resulted in a stronger performance for the group. Mr. Stull was also responsible for Lafarge aggregates and construction materials operations.
Aside from the US, Mr. Stull also held leadership positions in other markets such as sub-Saharan Africa and Latin America.
Mr. Stull earned his degree in chemical engineering from the University of Akron in Ohio, and pursued an Advanced Management degree from Harvard University in Massachusetts.
“John Stull is an accomplished leader with deep expertise in the building materials industry, both in mature and emerging markets. He has been instrumental in the successful development of LafargeHolcim’s US business over many years,” Holcim Philippines Chairman Tomas I. Alcantara said in a statement.
Holcim Philippines also appointed Mario Gross, who sits as the CEO of LafargeHolcim in Malaysia and Singapore, to its board. Mr. Gross will serve as non-executive director, following the resignation of Daniel Bach as director.
Mr. Gross has 15 years of experience in the construction business, after having served in various leadership positions in Germany, China, Thailand, and Switzerland.
Holcim saw a 61% drop in earnings to P2.688 billion in 2017, against the P6.845 billion it delivered in the year before. The company attributed the decrease to the slowdown in construction activities, tighter competition, as well as increased input costs.
The firm is currently expanding its cement capacity through a $54-million capital infusion until 2019, which looks to raise the firm’s cement capacity to 12 million metric tons.
“I look forward to building on our already strong foundation and reinforcing Holcim as the leading building materials company in the Philippines,” Mr. Stull said.
Shares in Holcim gained eight centavos or 0.85% to close at P9.45 each at the Philippine Stock Exchange on Monday. — Arra B. Francia