NEW YORK Sims Metal
Management Ltd. has appointed a team of executives to manage
the company until a successor is selected to replace retiring
chief executive officer Daniel W. Dienst, the company said.
Geoffrey Brundson, chairman of
the companys board, will oversee the leadership team,
which will include nonexecutive director James Thompson and the
leaders of all the companys key operations, Sims said
The leadership team will manage
the company from July 1 until the new chief executive officer
assumes his role.
Dienst, who steps down June 30
amm.com, Feb. 22), will serve as a consultant for
a year. His duties and responsibilities will include assisting
with the transition, advising the company chairman on safety
matters and contributing his expertise to the companys
strategy in China.
Dienst will be available for up
to an average of 12 days per month in this consultancy role and
will be paid a fee of $50,000 per month plus related expenses,
the company said.
"During the term and, if the
agreement continues for its full term until June 30, 2014, for
a period of three months thereafter, Dienst will not engage in
any business or activity which is directly or indirectly in
competition with that of the company," the New York-based