Aurubis names Toralf Haag as new CEO after board overhaul
Copper producer Aurubis has named Toralf Haag as its new CEO, completing an overhaul of its board in the wake of a giant raw-materials fraud.
Haag will take over from Roland Harings, after the company’s supervisory board terminated his contract early in January, along with two other executive board members. The move followed Aurubis’s decision to carry out an independent legal probe into a criminal scam that cost the copper producer about €169-million ($184-million) last year.
The fraud was perpetrated by suppliers and complicit employees, and involved valuable scrap raw materials. It followed on from a smaller theft discovered a few months earlier, and both issues have raised uncomfortable questions about the company’s security controls. Operational safety has also been scrutinized following the death of three workers after a nitrogen leak at its Hamburg plant.
Haag joins the company from Voith Group, and has previously worked at Aurubis in the early 2000s. Tim Kurth has also been named chief operating officer of the company’s custom smelting operations. Both will begin their new roles on September 1.
Aurubis shares were trading 4.6% higher at €76.15 by 4:28 p.m. in Frankfurt. Germany’s Manager Magazin speculated that the company’s biggest shareholder, Salzgitter, may seek to increase its influence.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
We are responsible manufacturers of essential components. Manufacturing 80 million parts a week, we have over 1 billion parts in stock.
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
