CRH selects Carton to drive transformation
Published 28/04/2015 | 02:30
CRH finance director Maeve Carton - one of Ireland's most powerful female executives - is to spearhead a mission to ensure the building materials giant is in good condition as it nears the acquisition of €6.5bn worth of assets from Lafarge and Holcim as part of their upcoming merger.
CRH said that Ms Carton, who joined the company in 1988, will become its group transformational director, helping to integrate the business and identify operational and financial savings.
The group began a root and branch review last year to identify under-performing assets and is currently engaged in a multi-year programme to sell them.
Chief executive Albert Manifold has been pushing for the group to get back to basics.
"Maeve will drive improved shareholder returns by identifying further synergies, efficiencies and cash generation opportunities as CRH continues to grow and acquire new businesses," according to the company.
Ms Carton will take up her new role in January, and CRH is already hunting for a finance director to succeed her.
CRH has received approval from the European Commission for its asset purchases from Lafarge and Holcim.
The French and Swiss firms are selling those operation to satisfy competition concerns.
A Holcim EGM will be held next week to approve the merger with Lafarge.
The $44bn deal nearly collapsed in March due a disagreement over who would lead the new combined group.
It was ultimately agreed that Lafarge executive Eric Olsen would head the group.
Ms Carton joined CRH having previously worked for a number of years as a chartered accountant with an international accountancy firm.
She rose through the ranks at CRH, becoming group financial controller in 2001, before being appointed finance director in May 2010 and joining the board that same year.
Ms Carton will continue as a board member and to report to Mr Manifold.