It is reported that the world's largest independent steel trader, Stemcor, has appointed Mr. Julian Verden as CEO, effective from January 1st, 2013.

Mr. Verden started his career with Samac in 1978, a steel trading and distribution company acquired by Stemcor in 1998.

He was a chairman of the International Steel Trade Association and was designated to be the Group Managing Director of Stemcor Holdings in 2000.

He has since been responsible for much of the Group's stockholding, distribution and service center businesses which accumulated him a 30 years of experience in the steel industry.

Verden will take over from Mr. Ralph Oppenheimer on the part of the executive committee and all day to day matters including trading and deals.

Mr. Oppenheimer will remain his direction over the Group's strategy, mergers, acquisitions, disposals and structural changes. Mr. Philip Edmonds's position remains unchanged.