With UK construction activity contracting for a fourth straight month, companies are suffering.
Holcim UK – formerly Aggregate Industries – is clearly one of them. The Chryston asphalt and concrete plant in North Lanarkshire is now threatened by closure with the loss of 32 jobs.
How can Scotland build our way to growth if we cannot supply our builders? Threat to concrete plant in Lanarkshire only latest risk to manufacturing sector.https://t.co/C7yccAd5uK pic.twitter.com/DuEQ8yk5Wr
— GMB Scotland (@GMBScotOrg) May 8, 2025
GMB Scotland has written to Kate Forbes, the economy secretary and deputy first minister, warning the proposed closure of the Aggregate Industries site, near Glasgow, has come without warning or justification
Meanwhile, in the rarefied world of corporate excess:
📉 Proxy advisor Ethos urges Holcim shareholders to reject a staggering $58 million pay package for Chairman Jan Jenisch, citing it as excessively high for a Swiss bluechip. The debate highlights ongoing concerns over executive compensation and accountab… https://t.co/Wq1pl9LR4Y
— Global Banking & Finance Review (@GBAFReview) May 8, 2025
May 8 (Reuters) - Proxy advisor Ethos has called on Holcim shareholders to reject the company's remuneration proposals, saying Chairman Jan Jenisch's estimated 48 million Swiss franc ($58 million) compensation realised in 2024 would make him the highest-paid manager among Swiss blue-chip companies. Ethos calculated the figure for realised compensation for Jenisch, a former CEO of the cement maker, based on the performance of share options he received in 2020."Jan Jenisch's variable remuneration for 2024, which is 25 times his base salary as CEO, is unacceptable," said Vincent Kaufmann, CEO of the Ethos Foundation, calling on Holcim's board to abolish the option plan.Holcim, when asked for comment by Reuters, said Ethos' framing of Jenisch's remuneration was misleading. "The value of this option scheme has been misrepresented by Ethos as it reflects a five-year rolling program, reflecting record performance over a 5-year period, and is not an annual remuneration," a Holcim spokesperson said.
