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What is risk?

Tom Fox | December 15, 2017

Reports indicate the world’s largest cement manufacturer, LafargeHolcim is under investigation relating to its former operations in Syria. An internal investigation found “managers of Lafarge’s Syrian plant had paid armed groups to allow employees to move to and from the factory so that it could continue operating.” This led to the resignation of the Chief Executive Officer (CEO), Eric Olsen. French authorities now have him under investigation, examining if he and other senior executives knew about the payments and, more ominously, “whether the company may have bought oil linked to the Islamic State.”

When the Syrian Civil War broke out every other western company eventually left their facilities in the country. However, the company kept its plant open. Alderman reported, “In 2012, Lafarge’s local managers started using intermediaries to pay the armed groups to ease the passage of...

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