Annual Report 2011 Holcim Ltd

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Organization and management In 2011 the Board of Directors elected Bernard Fontana as new CEO effective February 1, 2012. He replaces CEO Markus Akermann, who is retiring. Efficient management and control Holcim’s corporate governance policy defines the processes, organization and monitoring of its top corporate management, as well as business policy principles and internal and external control mechanisms. The policy’s aim is to clearly delineate responsibilities, and to ensure transparent and sustainable value creation with the appropriate management and control. This includes the Group’s credibility and good reputation, which strengthens confidence among investors, business partners, employees and the public at large. Holcim’s principles of corporate governance are continually revised in line with the latest developments and necessities. The internal control system (ICS) introduced in 2007/2008 for the presentation of the annual financial statements, conforming to the requirements of Art. 728a of the Swiss Code of Obligations and Swiss Auditing Standard 890, has proved itself. The internal control mechanisms go beyond financial control and increasingly also cover areas revolving round questions of business ethics and integrity. Holcim is one of the few Swiss companies to sign up to the ten principles of the UN Global Compact on human rights, labor, the environment and anti-corruption. Code of Conduct Issued by the Board of Directors and the Executive Committee in 2003, the Code of Conduct defines Group-wide standards of business behavior expected of all staff. The Code of Conduct can be found on our website under www.holcim.com. Each Group company is responsible for incorporating the principles of the Code of Conduct into staff and employment contracts. The Code states that noncompliance with the rules will not be tolerated and will result in disciplinary measures, which could go as far as termination of the employment relationship. Value creation in a competitive environment Among other things, the Code of Conduct requires strict respect for the rules of competition. Measures have been introduced to ensure that the Group companies comply with the relevant legislation and regulations of the country in question. These include a centrally coordinated training program and instructions on good business conduct in line with modern competition law. Training and support materials are continually brought into line with the latest developments in competition law. 39 Organization and Management
Value-Driven Corporate Management Status as at February 29, 2012 The Executive Committee from left to right: Benoît-H. Koch, Urs Böhlen, Ian Thackwray, Patrick Dolberg, Roland Köhler, Bernard Fontana, Andreas Leu, Paul Hugentobler, Thomas Aebischer. Board of Directors Rolf Soiron Chairman Beat Hess Deputy Chairman Erich Hunziker Deputy Chairman, Chairman of the Governance, Nomination & Compensation Committee Markus Akermann Christine Binswanger Alexander Gut Peter Küpfer Chairman of the Audit Committee Adrian Loader Andreas von Planta Thomas Schmidheiny Wolfgang Schürer Dieter Spälti Secretary of the Board of Directors Peter Doerr Executive Committee Markus Akermann Chief Executive Officer until January 31, 2012 Bernard Fontana Chief Executive Officer from February 1, 2012 Thomas Aebischer Chief Financial Officer Urs Böhlen Eastern and Southeastern Europe, CIS/Caspian region Patrick Dolberg Belgium, France, Netherlands, Germany, Switzerland, Italy Paul Hugentobler South Asia & ASEAN excl. Philippines Benoît-H. Koch North America, UK, Norway, Mediterranean incl. Iberian Peninsula, International Trade Roland Köhler CEO Holcim Group Support Ltd Andreas Leu Latin America Ian Thackwray East Asia incl. China, Philippines, Oceania and South & East Africa Area Management Javier de Benito Urs Fankhauser Aidan Lynam Bernard Terver Onne van der Weijde from January 1, 2012 Corporate Functional Manager Jacques Bourgon Auditors Ernst & Young AG Management Structure See organizational chart on pages 44 and 45. Changes See also Corporate Governance on page 121 ff.
Page 1 and 2: Annual Report 2011 Holcim Ltd 100 y
Page 4 and 5: 2012 - a remarkable year for Holcim
Page 6 and 7: Contents Annual Review 2011 6 Share
Page 8 and 9: Consolidated key figures for Europe
Page 10 and 11: Consolidated key figures for cement
Page 12 and 13: A world of multiple speeds A patter
Page 14 and 15: Impairments adversely affect consol
Page 16 and 17: Change at the top Another reason wh
Page 18 and 19: 1912 1913 1914 1915 1916 1917 1918
Page 20 and 21: In doing so, this visionary lime en
Page 22 and 23: Ernst Schmidheiny had bet on the ri
Page 24 and 25: 1922 1923 1924 1925 1926 1927 1928
Page 26 and 27: on its business of the world econom
Page 28 and 29: 1932 1933 1934 1935 1936 1937 1938
Page 30 and 31: At the same time they protected eac
Page 32 and 33: Cement and aggregates as core busin
Page 34 and 35: Changes in personnel by Group regio
Page 36 and 37: Investments in aggregates and concr
Page 38 and 39: Value chain Supply Demand Cementiti
Page 42 and 43: At the 2011 annual general meeting,
Page 44 and 45: Internal Audit as an important moni
Page 46 and 47: Paul Hugentobler Ian Thackwray Thom
Page 48 and 49: Holcim Germany, Nord Stream offshor
Page 50 and 51: Capital market information Holcim c
Page 52 and 53: Weighting of the Holcim registered
Page 54 and 55: Environmental commitment and social
Page 56 and 57: During 2011, Holcim received Certif
Page 58 and 59: During the centennial year, 2012, e
Page 60 and 61: International transfers enhance per
Page 62 and 63: Group employees by segments 2011 20
Page 64 and 65: 1942 1943 1944 1945 1946 1947 1948
Page 66 and 67: The Swiss did not pull their punche
Page 68 and 69: 1952 1953 1954 1955 1956 1957 1958
Page 70 and 71: Almost simultaneously with the entr
Page 72 and 73: 1961 oping in several markets for a
Page 74 and 75: 1962 1963 1964 1965 1966 1967 1968
Page 76 and 77: the founding of a new national comp
Page 78 and 79: The merger meant reorganization on
Page 80 and 81: 1972 1973 1974 1975 1976 1977 1978
Page 82 and 83: Although Max Schmidheiny remained a
Page 84 and 85: Positive volume development in Euro
Page 86 and 87: Holcim Russia posted double-digit i
Page 88 and 89: Recycling of aggregates protects na
Page 90 and 91:
Slight recovery tendencies in North
Page 92 and 93:
Holcim US results were adversely af
Page 94 and 95:
Solid economic development in Latin
Page 96 and 97:
the previous year also due to the s
Page 98 and 99:
Stable markets in Africa Middle Eas
Page 100 and 101:
Business trend still solid Construc
Page 102 and 103:
Lively building activity in Asia Pa
Page 104 and 105:
Like-for-like increase in operating
Page 106 and 107:
1982 1983 1984 1985 1986 1987 1988
Page 108 and 109:
“Holderbank” to take part in la
Page 110 and 111:
2001 2000 1999 1998 1997 1996 1995
Page 112 and 113:
The restructuring of the market in
Page 114 and 115:
“Holderbank” also received a fu
Page 116 and 117:
2002 2003 2004 2005 2006 2007 2008
Page 118 and 119:
scant two decades, Holcim was able
Page 120:
Despite the weak world economy, in
Page 123 and 124:
Corporate Governance 122 More detai
Page 125 and 126:
Corporate Governance 124 Other majo
Page 127 and 128:
Corporate Governance 126 Organizati
Page 129 and 130:
Corporate Governance 128 Senior man
Page 131 and 132:
Corporate Governance 130 shares sha
Page 133 and 134:
Corporate Governance 132 Board of D
Page 135 and 136:
Corporate Governance 134 Adrian Loa
Page 137 and 138:
Corporate Governance 136 Executive
Page 139 and 140:
Corporate Governance 138 Andreas Le
Page 141 and 142:
Corporate Governance 140 Bernard Te
Page 143 and 144:
Remuneration Report 142 Remuneratio
Page 145 and 146:
Remuneration Report 144 comparable
Page 147 and 148:
Remuneration Report 146 Compensatio
Page 149 and 150:
Remuneration Report 148 Compensatio
Page 151 and 152:
Remuneration Report 150 Shares and
Page 153 and 154:
Remuneration Report 152 Loans grant
Page 155 and 156:
Financial Information 154 Managemen
Page 157 and 158:
Financial Information 156 Quarterly
Page 159 and 160:
Financial Information 158 in Europe
Page 161 and 162:
Financial Information 160 Holcim In
Page 163 and 164:
Financial Information 162 Russia -
Page 165 and 166:
Financial Information 164 Liquidity
Page 167 and 168:
Financial Information 166 Consolida
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Financial Information 172 According
Page 175 and 176:
Financial Information 174 The Group
Page 177 and 178:
Financial Information 176 Property,
Page 179 and 180:
Financial Information 178 In relati
Page 181 and 182:
Financial Information 180 Changes i
Page 183 and 184:
Financial Information 182 Contractu
Page 185 and 186:
Financial Information 184 Due to a
Page 187 and 188:
Financial Information 186 Fair valu
Page 189 and 190:
Financial Information 188 Notes to
Page 191 and 192:
Financial Information 190 3 Informa
Page 193 and 194:
Financial Information 192 Reconcili
Page 195 and 196:
Financial Information 194 5 Informa
Page 197 and 198:
Financial Information 196 12 Financ
Page 199 and 200:
Financial Information 198 15 Resear
Page 201 and 202:
Financial Information 200 19 Invent
Page 203 and 204:
Financial Information 202 23 Proper
Page 205 and 206:
Financial Information 204 For the i
Page 207 and 208:
Financial Information 206 27 Trade
Page 209 and 210:
Financial Information 208 Bonds and
Page 211 and 212:
Financial Information 210 29 Leases
Page 213 and 214:
Financial Information 212 31 Deferr
Page 215 and 216:
Financial Information 214 33 Employ
Page 217 and 218:
Financial Information 216 Retiremen
Page 219 and 220:
Financial Information 218 The contr
Page 221 and 222:
Financial Information 220 36 Detail
Page 223 and 224:
Financial Information 222 Cash flow
Page 225 and 226:
Financial Information 224 Compensat
Page 227 and 228:
Financial Information 226 Shares an
Page 229 and 230:
Financial Information 228 Other tra
Page 231 and 232:
Financial Information 230 Region Co
Page 234 and 235:
To the General Meeting of Holcim Lt
Page 236 and 237:
Holcim (Deutschland) AG, Germany Ch
Page 238 and 239:
Aggregate Industries Management Inc
Page 240 and 241:
Holcim (Liban) S.A.L., Lebanon Chie
Page 242 and 243:
Cement Australia Holdings Pty Ltd a
Page 244 and 245:
Balance sheet Holcim Ltd as at Dece
Page 246 and 247:
Data as required under Art. 663b an
Page 248:
Share capital 2011 2010 Shares Numb
Page 252 and 253:
5-year-review Group Holcim 2011 201
Page 254:
191219131914191519161917191819191 C
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