Saint-Gobain: executives dimissed following cartel fine

Glass and construction materials group Compagnie de Saint-Gobain SA is dismissing two company executives after a EUR 896 million fine imposed by the European Commission for a violation of competition …

Glass and construction materials group Compagnie de Saint-Gobain SA is dismissing two company executives after a EUR 896 million fine imposed by the European Commission for a violation of competition rules, Les Echos reported 2 December 2008. According to the report, the group“s director of the flat glass branch, Jacques Aschenbroich, and Hans Cordes, long-term head of Saint-Gobain“s autoglass operations Sekurit OEM, are losing their posts. In an internal note circulated by the company, Saint-Gobain said it was no longer possible to keep in the group those responsible for glazing operations after it was revealed the group had been involved in a cartel for auto glass, the report said. Mr. Aschenbroich and Mr. Cordes will leave the company on 31 December 2008 as part of the group“s management reshuffle, La Tribune reported.