By John Revill

ZURICH (Reuters) – Holcim has named its chairman and former chief executive Jan Jenisch as chairman and CEO of its North American company following its multi-billion dollar spin-off, the Swiss constructing materials maker said on Friday.

Jenisch, who was CEO at Holcim from 2017 to 2024, has been accountable for steering the 100% separation of the corporate’s North American business right into a separate U.S.-listed entity with a possible market valuation of $30 billion.

Holcim also named nine other members for the board of directors for the North American company, which is anticipated to finish its spin-off by the top of the primary half of 2025.

The cement and roofing maker announced the separation of the North American business last January, a move designed to capitalise on the region’s infrastructure and construction boom, in addition to capture the next valuation.

The separation is one among the most important changes in the worldwide construction market this yr and is being closed watched by rivals including Germany’s Heidelberg Materials.

Holcim also on Friday nominated board member Kim Fausing to interchange Jenisch as chairman of the remaining business which will not be being divested.

Fausing, the CEO of Danish engineering group Danfoss, will take over from Jenisch following the corporate’s AGM in May, when Jenisch will step down.

Jenisch, who was CEO at Swiss construction chemcials maker Sika before Holcim, said the board appointments were a “milestone” on the North American business’s path to becoming a separate company.

The business, which had sales of roughly $11 billion in 2023, has been a star performer in recent times, increasing its sales by a mean of 20% per yr.

Holcim, which is considering a recent name for the North American operation, now wants to extend annual sales to $20 billion by 2030, mainly through organic growth and small acquisitions.

(Reporting by John Revill; Editing by Miranda Murray)