LONDON Stemcor Ltd. board
member David Faktor has resigned as the U.K.-based steel
trading houses head of international steel trading.
steel trading division is undergoing a number of structural
changes, a company spokesman told AMM sister
publication Steel First. "We are reviewing the
divisions structure in light of the difficult trading
situation," he said. "It is still a core business and we are
still looking to expand. Theres been no change in
Faktor, who has worked at
London-based Stemcor for more than 30 years, resigned from the
post Friday, the spokesman said.
Stemcor, the worlds
largest steel trader, has not yet appointed a replacement for
Faktor, who will remain on the companys board working on
a number of projects.
Members of Stemcors
international steel trading division will report to North
America head Steve Graf until a replacement for Faktor is
Faktor, who has been managing
director of international steel trading at Stemcor since 2000,
had left the role for personal reasons, the spokesman
Stemcor in September had
announced that group managing director Julian Verden was
replacing long-term chief executive officer Ralph Oppenheimer
effective Jan. 1, although Oppenheimer will remain an active
chairman on the companys board (
amm.com, Sept. 11).
A version of this article was
first published by AMM sister publication Steel First.