MUNICH—Niels Raeder, chairman of the management board and founder of Pyrolyx A.G., has stepped down from his position.
Raeder, who founded the recovered carbon black company in 2008, handed over the chairmanship to Bernhard Meder in June, according to a company release.
Under Raeder's management, Pyrolyx acquired majority stakes in U.S. company ReKlaim Inc. and had a successful IPO on the Australian Securities Exchange in 2017.
Pyrolyx is building a large-scale rCB plant in the U.S.
Bernhard Meder, the new chairman of the management board, previously worked as CEO and board member of various medium-sized companies and is one of the main shareholders of CCT A.G.
Meder successfully integrated CCT into today's Pyrolyx A.G. four years ago.