Global – Galdino Claro is the new chief executive officer and managing director of Australia-based Sims Metal Management (SMM). He succeeds Daniel Dienst, who retired last June.
Claro, a former aluminium industry chief executive, will face the immediate challenge of reversing losses in both revenues and earnings at SMM. In August, the group recorded another massive loss following a sharp fall in revenues and further write-downs at its US and UK businesses.
Claro, who will be paid a salary of US$ 1 million plus benefits and bonuses, has around 30 years’ experience in the global metals industry, recently as the executive vice president and chief executive of metals and minerals at the New York-listed Harsco Corporation.
According to a SMM spokesman, Claro has the experience and tenacity ‘to make difficult decisions necessary to steer Sims Metal Management through the global environment it confronts at this time, as well as positioning the company for any recovery in international markets’.
Dienst continues to work as a part-time consultant with SMM. He will assist with the transition to a new chief executive, advise the company’s chairman on safety matters and help with SMM’s strategy in China.