Luxembourg headquartered leading provider of hazardous waste recycling services Befesa has appointed Chief Executive Officer Mr Javier Molina as Executive Chair of Befesa & Steel Dust Recycling Business Vice President Mr Asier Zarraonandia will take over as Chief Executive Officer of Befesa. Mr Romeo Kreinberg, currently Chair of the Board, has been appointed Lead Independent Director and remains Chair of the Nomination and Remuneration Committee. The changes will be effective immediately. As chairperson of the board of directors of Befesa and Executive Chair, Mr Molina will be the most senior executive in the group and Befesa's main representative for regulators, authorities, and shareholders. He will lead the implementation of Befesa's corporate strategy, covering growth projects and the Sustainable Global Growth Plan as well as the sustainability strategy, including CO2 reduction plans and ESG. As Chief Executive Officer of Befesa, Mr Zarraonandia, who successfully developed and managed the Steel Dust Recycling Business, which represents around 80% of Befesa's EBITDA, will report to the Executive Chair. He will be responsible for the day-to-day management across Befesa's business units and for all operations including production, supply chain and commercial. He will also be responsible for the execution of the various growth projects in the business. Mr Wolf Lehmann, currently CFO of Befesa, will maintain his role and responsibilities, also reporting to the Executive Chair. Befesa is a leading player in the circular economy, providing environmental, regulated services to the steel and aluminium industries with facilities located in Germany, Spain, Sweden, France, as well as in Turkey, South Korea, China and the US. Through its two business units, Steel Dust and Aluminium Salt Slags recycling services, which are a critical part of the circular economy, Befesa manages and recycles more than 2 million tonnes of residues annually, with a production of around 1.5 million tonnes of new materials, which Befesa reintroduces in the market, reducing the consumption of natural resources.