FRANKFURT (dpa-AFX) - A report on serious personnel changes in the company's management weighed on the shares of copper group Aurubis on Monday. With a drop of 4.2 percent, they were among the biggest MDax losers and also reached their lowest level since the beginning of September. At that time, the company had canceled its profit outlook for the financial year due to extensive metal thefts, which had caused it a three-digit million loss.

According to a press report, there are now personnel consequences. According to "Manager Magazin", which cites company circles, Rainer Verhoeven, Head of Finance and responsible for risk management, and Heiko Arnold, Head of Production, will have to leave at short notice. CEO Roland Harings will have until the end of the financial year at the latest to prepare the handover to a successor. Only Inge Hofkens, the new board member responsible for recycling who was appointed a year ago, will remain in office. A company spokesperson did not wish to comment on the report.

A trader commented that Aurubis was taking the most severe personnel consequences imaginable with such a step. Another market participant did not see the move as a big surprise. However, the looming management vacuum is weighing on sentiment.