After its former boss was charged with allegations of terror financing, LafargeHolcim’s new CEO has announced a revamp and written off over $4 billion in the process:
The stock fell more than 7 percent after the strategy was revealed. Analysts said the new goals lacked ambition... The revamp would include a focus on fewer markets to concentrate on the United States, Latin America, India and Africa... The fourth-quarter charge pushed LafargeHolcim into a net loss of 3.12 billion Swiss francs in 2017. Without the charge, net profit fell 31 percent to 270 million francs.
LafargeHolcim is the parent company of Aggregate Industries.
