ZURICH: French-Swiss cement maker LafargeHolcim said on Monday its chief executive Eric Olsen is stepping down following an internal investigation into the company’s activities in Syria.

His resignation will be effective on July 15, LafargeHolcim said in a statement, adding that its board had agreed to his departure even though an internal probe had determined he was not responsible for any wrongdoings.

Olsen’s departure follows an inquiry into the indirect financing by Lafarge of armed groups in civil war-ravaged Syria to keep one of its cement plants operational.

“My decision is driven by my conviction that it will contribute to addressing strong tensions that have recently arisen around the Syria case,” said Olsen.

“While I was absolutely not involved in, nor even aware of, any wrongdoing I believe my departure will contribute to bringing back serenity to a company that has been exposed for months on this case,” he added.

Published in Dawn, April 25th, 2017