Niels Raeder steps down as Chairman of the Management Board after 10 years
Munich, June 14, 2018
Acting with the approval of the Supervisory Board, Niels Raeder, the Chairman of the Management Board and founder of Pyrolyx AG, has decided to hand over chairmanship to Bernhard Meder with immediate effect.
Niels Raeder set up Pyrolyx AG in 2008 as its founder and has headed the company ever since as Chairman of the Management Board. Under his management, Pyrolyx AG became the global market leader in recovered carbon black (rCB). The most important step he achieved in this process was the majority takeover of US company ReKlaim, Inc. which was the foundation of the successful IPO of Pyrolyx AG on the Australian Securities Exchange (ASX) in 2017. Pyrolyx is now building the world’s biggest and most advanced rCB plant in the USA.
Bernhard Meder, the new Chairman of the Management Board, has a wealth of experience as CEO and board member of various medium-sized companies. As one of the main shareholders of CCT AG and a member of its supervisory board, four years ago he successfully integrated CCT into today’s Pyrolyx AG. By doing so, together with Niels Raeder, he laid the foundations for what is currently the most successful thermal process for recycling end-of life tires.
Alexis Gurdjian, Chairman of the Supervisory Board said: “By firmly believing in the possibility of recovering carbon black from scrap tires, Niels Raeder demonstrated tremendous vision for one of today’s biggest environmental problems a decade ago. He and the entire Pyrolyx team have managed to shape the Pyrolyx Group and make it the international leader in its field. After the successful build-up of the company, Niels Raeder has asked to be replaced as Chairman of the Management Board.
“In Bernhard Meder, we have gained a highly respected expert, engineer and successful board member for the post. The Pyrolyx Group will thus continue to remain in an excellent position. “
On behalf of the entire Supervisory Board and all the staff of the Pyrolyx Group, I would like to sincerely thank Niels Raeder for his unique achievements. Being a respected expert, he will continue to serve as an advisor to the company. Specifically, he will support Pyrolyx’s international expansion as well as strategic partnerships with the international tire and carbon black industry, something I am very pleased about.”
About Pyrolyx AG
Pyrolyx AG is the world leader in the extraction of rCB (recovered carbon black) from end-of-life tires. Conditioned rCB is used to manufacture new tires as well as in the masterbatch and technical rubber industries. In addition to operating a modern rCB plant in Germany, Pyrolyx AG is currently building a factory in the USA in Indiana.
Shares in the company (WKN A2E4L4) are listed on the stock exchanges in Düsseldorf and Frankfurt as well as on m:access (Munich Stock Exchange) and the Australian Securities Exchange (ASX:PLX), and also traded on the electronic trading system Xetra.
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Pyrolyx AG – Munich
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