SMM Appoints New CEO

Galdino Claro formerly was top executive at Harsco.

October 8, 2013
Recycling Today Staff
Sims Metal Management Ltd. (SMM) has appointed Galdino Claro its new CEO and managing director, beginning Nov. 4, 2013. Claro has nearly 30 years of global executive leadership experience in the metals industry, including most recently serving as Harsco’s executive vice president and CEO for metals and minerals. 

Prior to Harsco, Claro worked for the aluminum company Aleris Americas, a division of Aleris International.

"I am delighted that Galdino has agreed to lead our company," says Geoff Brunsdon, chairman of SMM. "He has the experience and tenacity, as well as the personal qualities and vision, to make the 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."

Claro says, "I am honored to be joining the Sims Metal Management team and look forward to building upon the company's remarkable heritage and global reach. The company has faced several challenging years, but I am excited about the opportunities that lie ahead."

The company, with joint headquarters in Sydney and New York City, has encountered a number of problems in the past year. In early 2013, SMM discovered significant accounting and inventory problems at several recycling facilities in the U.K. An investigation of the issue found that the value of the inventory at the locations had been significantly overstated. SMM also reported significant impairments in its business, which led to a series of write-downs that totaled $432 million and involved its U.K. and U.S. operations.