The FT quotes Lafarge saying that the bonus was for the "exceptional performance" of Lafont in "extraordinary circumstances". The FT says the bonus represents a significant addition on top of his normal salary and perks, which in 2014 were a reported €1.8 million.
Details of Lafont’s reported bonus come in the same week as Lafarge announced it was axing 380 jobs, 166 of them in France, as a result of the €40 billion merger deal, which will create the world's largest cement company by revenues.
Lafont had been earmarked for the job of chief executive of the merged LafargeHolcim, but after disagreement between the two cement sector heavyweights over his role, the position is now to be filled by the French firm’s Eric Olsen. Lafont has accepted an offer of a co-chairman role, with Holcim's Wolfgang Reitzle taking the same title.
After further disagreement had been aired over the merger deal price, a face-saving package has now been agreed between Lafarge and Holcim’s boards. If Lafarge investors tender at least two-thirds of its shares, the merger deal is expected to close in July.
