Chiho-Tiande, a Hong Kong-based mixed metals recycling company, has announced that at its recent shareholders meeting the company dismissed Oliver Scholz as managing director of its Scholz Recycling GmbH division. The removal was immediate. Per news reports his employment with the company also was terminated without notice.
A source at the company said no reason was given for the dismissal.
Chiho-Tiande acquired Scholz Recycling in 2016 as the German company was struggling financially. Since then Scholz Recycling had taken several steps to streamline its operations and strengthen its fiscal situation, says Chiho-Tiande, which also says it is reconfiguring Scholz's trading operations.
While the company is currently looking for a new managing director for Scholz Recycling, it will be managed by a team that consists of Henry Qin (co-CEO); Martin Billhardt, (chief technology officer); Jochen Fischer (chief financial officer, or CFO); and Kai Lohmann (chief operating officer).
The management team will be assisted by Dr. Gerd Hähne and Alfred Thönes, the CEO and CFO of Scholz’s German and Polish businesses.
Chiho-Tiande says the Scholz Group is positioned to achieve growth this year and that the European scrap division will focus on the expansion of its trading business and on increasing its margins.
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