Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of MRW, please enable cookies in your browser

We'll assume we have your consent to use cookies, so you won't need to log in each time you visit our site.
Learn more

Davy 'no longer employed' by Sims

Sims Metal Management has abruptly lost its European chief executive.

Graham Davy Sims

The company, which says it is the world’s largest metals and electronics recycler, said in a terse statement: “Graham Davy [left], CEO Europe and Global Sims Recycling Solutions (SRS), is no longer employed by the company.”

It did not expand on the reasons for Davy’s departure. Hans-Otto Hagemann was appointed acting managing director SRS continental Europe and SRS UK.

Sims’ chief executive Daniel Dienst announced last month that he would retire in June.

The firm in February reported a first half loss of AUS$295.5m, an improvement on the AUS$633.2m H1 loss the previous year.

It reported H1 revenue down 25% on the corresponding period last year to AUS$3.4bn.

Dienst said in February: “The performance of our European business in the first half of Fiscal 2013 was an obvious disappointment. Our traditional UK metals operations in particular continue to struggle with weak scrap generation and tight margins.”

He said then that the board’s “highest priority” would be to resolve an alleged fraud at its Newport and Long Marston plants in the UK, where a company investigation completed in February had found that an inventory write-down of $78m was required.


Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.