HeidelbergCement CFO Naeger to retire after 17 years

FILE PHOTO: A logo of HeidelbergCement is pictured at their headquarters in Heidelberg

FRANKFURT (Reuters) – HeidelbergCement, the world’s second-largest cement maker, said on Thursday finance chief Lorenz Naeger would retire after 17 years and be replaced by Rene Aldach, effective from September.

“During his term of office, HeidelbergCement’s revenue and profit almost tripled and free cash flow nearly quadrupled,” Supervisory Board Chairman Fritz-Juergen Heckmann said.

The company also said two new management board positions would be created effective September to reflect the growing relevance of sustainability and digitalisation.

(Reporting by Christoph Steitz; Editing by Edmund Blair)