Saint-Gobain to surf on the renovation wave, CEO will step down
Saint-Gobain's Chief SLOT เกมใหม่ ทดลอง เล่น สล็อตฟรี Executive Pierre-André de Chalendar
will step down this summer, the French construction materials group announced on Thursday,
while it reported record second-half results, fuelled by an increased demand on the renovation
market which should continue in the following years.
With effect from July 1, Chalendar, whose mandate was set to end in 2022, will be succeeded
as CEO by current Chief Operating Officer Benoit Bazin but will stay on as chairman.
"Benoit has managed, with the success we see today, critical projects like our transformation
plan 'Transform & Grow' or the acquisition of Continental Building Products," Chalendar said
in a statement.
Launched in 2018, Saint-Gobain's restructuring programme reshaped the group's organisation
around regional units, helping it comply with local pandemic-related restrictions.
"Over the year as a whole, we unlocked significant savings of 690 million euros, with a strong
contribution from 'Transform & Grow' which met its target of 250 million euros in structural
gains in 2019-2020 a year earlier than planned," Chalendar added.
Saint-Gobain, which makes the bulk of its sales in Europe, benefited from its exposure to
renovation, its biggest market, and posted a 2.03 billion euros (US$2.47 billion) operating
income in the second half, leading to a record operating margin of 10per cent.