At a meeting held on February 26, 2003, the Board of Directors of the Lafarge Group decided, upon proposal by the Chairman and CEO, Bertrand Collomb, to separate the positions of Chairman and Chief Executive Officer as it is now made possible by the Law on New Economic Regulations introduced in 2002. The Board has further decided that from May 20, 2003 date of the Annual General Meeting, Bertrand Collomb will be Chairman and Bernard Kasriel will be Chief Executive Officer.
During the meeting Bertrand Collomb told the Board: "The appointment of Bernard Kasriel shows the continuity in the Group's organization in line with its tradition. His in-depth knowledge and experience of our industries combined with his recognized leadership skills will enable him to manage the Group with efficiency and to build its future. We have been working closely together since 1989 and we will continue to do so in this new configuration".
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Statements made in this press release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions ("Factors") which are difficult to predict. Some of the Factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the cyclical nature of the Company's business; national and regional economic conditions in the countries in which the Group does business; currency fluctuations; seasonality of the Company's operations; levels of construction spending in major markets; supply/demand structure of the industry; competition from new or existing competitors; unfavorable weather conditions during peak construction periods; changes in and implementation of environmental and other governmental regulations; our ability to successfully identify, complete and efficiently integrate acquisitions; our ability to successfully penetrate new markets; and other Factors disclosed in the Company's Reference Document filed with the French COB under the reference number D02-162 and updated under the reference number D02-162/A1, and its annual report on Form 20-F filed with the Securities and Exchange Commission in the USA. In general, the Company is subject to the risks and uncertainties of the construction industry and of doing business throughout the world. The forward-looking statements are made as of this date and the Company undertakes no obligation to update them, whether as a result of new information, future events or otherwise.