The board of directors for CMA Corp. Ltd., based in Sydney, Australia, has promoted John Pedersen to CEO, effective January 2012. Pedersen has previously held senior positions with the Scholz Group, a recycling and environmental services firm headquartered in Germany.
CMA’s board also announced Peter Lancken will step down as interim CEO for the company, although Lancken will remain on the board as a non-executive director.
During the past several years, the Scholz Group has invested $60 million in CMA, becoming the largest investor in the company. According to the most recent statements, Scholz owns roughly 42 percent of the company.