CEO resigns after firm admits paying armed groups in Syria

Source: CNN Money

“The chief executive of the world’s largest cement maker will resign after the firm admitted to making payments to armed groups in Syria. Eric Olsen will step down as CEO of LafargeHolcim in July after an internal investigation found that managers at the company’s plant in Syria made indirect payments to armed groups in 2013 and 2014 in order to keep the facility open. … The Swiss-French firm opened its plant in Syria in May 2010, before political unrest and civil war consumed the country. LafargeHolcim suffered resource shortages and its staff were harassed by armed groups as the conflict intensified. It said the payments — made via middlemen — were initiated by plant managers who believed they were acting in the firm’s best interests.” [editor’s note: Nearly every company around the world does exactly the same thing, of course. It’s called “paying taxes” – TLK] (04/24/17)

http://money.cnn.com/2017/04/24/news/lafargeholcim-syria-ceo-armed-groups-payments/