Biography

•Jack held senior roles in a range of international companies such as Braun in Ireland and Germany,

Semperit in Dublin and Continental Tyres in France. He is currently Group HR Director of CRH Plc.,

•He is a former President of the German-Irish Chamber of Industry and Commerce and is currently

Chairman of its Kuratorium. He has also served terms as President of Engineers Ireland and the Irish

Academy of Engineering. He currently serves on the Board of the Eisenhower Fellowships and is Chairman

of the International Committee of the British-Irish Chamber of Commerce and President of the European

Chamber of Commerce in Ireland.

Company

•CRH plc was formed in 1970 with the merger of two major Irish companies, Cement Limited and

Roadstone Limited, both significant suppliers of building materials to the construction industry in Ireland.

Since the merger the Group has become a leading international building materials group with

approximately 76,000 employees at over 3,500 locations in 35 countries worldwide.

•CRH manufactures and distributes products from the fundamentals of heavy materials and elements to

construct the frame, through value-added exterior products that complete the building envelope, to

distribution channels which service construction fit-out and renewal. •CRH’s strategic vision is to be a responsible leader in building materials delivering superior performance and growth.

Jack Golden – Group HR Director

• Celtic Tiger: Strong export performance / Infrastructure programme

• Domestic Growth: Overdependence on Construction and Retail

• Downturn: Property bubble / Fiscal imbalance / International Financial crisis

• Recovery: banking / public finances / competitiveness

Macro – Economic Factors

(GDP % Change)

High unemployment

• Youth unemployment 31% (14% total)

• 300,000 people have emigrated in last four years (43% under 25)

• Structural imbalance – skills shortages

• Need for new Vocational Education / Apprenticeship system

• High labour costs discouraging recruitment

• Cost of Social Welfare payments

Government Initiatives to stabilise Economy

Cost Reduction:

•Pay cuts 5-10%

•Pension curtailment

•Headcount reduction

•Re-deployment

•Working hours

•Retirement age

•Social Welfare

•Capital spending

Tax Increases:

•Income Tax

•Property Tax

•Social Welfare

•VAT

•Excise Duty

•Pension Levy

Other Initiatives:

•NAMA

•Business Development incentives

•Skills shortage incentives

•Employment incentives

•Internships

•Sale of State assets

•Increased regulation

Croke Park Agreement

• The Croke Park Agreement is an agreement between the Irish Government and public sector unions.

• The 2010 budget imposed pay cuts of 5% to 10% on public sector workers.

• The agreement was signed against a background of layoffs and pay cuts in the private sector, the government agreed not to impose compulsory public sector layoffs or further public sector pay cuts until 2014.

• In return the public sector unions agreed to call no industrial action, and to cooperate on wide scale reforms of the public sector aimed at increasing efficiency, flexibility and redeployment and at reducing cost and headcount.

• Headcount has been reduced by 28,000 and the annual pay bill has been reduced by €3.1bn. Over 7,000 public servants have been redeployed.

• Croke Park II rejected. Planned savings of €300million in 2013 reduced to €150 million in revised proposals. Objective of saving €1billion over 3 years maintained.

• Continued strong performance of Export orientated FDI sector• Dependent on global recovery

• Slow recovery of indigenous sector• Construction and Retail critical sectors• Long term training initiatives needed

• Fiscal programme to bring deficit to < 3% of GDP by 2015

• General Government debt stabilised at 120% GDP• Challenges ahead• Close relationship with EU Partners

• Favourable demographics

• Well – educated workforce

• Attractive location for investment

Ireland’s Future

CRH plcBelgard CastleBelgard RoadClondalkinDublin 22

Phone: +353 404 1041Email: jgolden@crh.comMobile: +353 87 674 0005

Contact details