This announcement contains inside information
Renewi plc ("Renewi", the "Company") - Chief Executive Officer Succession
The Board of Renewi plc (LSE:RWI) announces that Peter Dilnot, Chief Executive Officer, has notified the Board of his resignation from the Company in order to take up the role of Chief Operating Officer of the FTSE 100 business, Melrose Industries plc. Peter will continue as Chief Executive Officer through the remainder of the current financial year.
The Board is pleased to announce that Otto de Bont, currently Managing Director, Renewi Netherlands (NL) Commercial Division, will succeed Peter as Chief Executive Officer in April 2019.
Otto de Bont joined Renewi in May 2017 to lead the newly created NL Commercial Division following the merger between Shanks Group and Van Gansewinkel Groep. NL Commercial is Renewi's largest division and the Dutch market leader in recycling services. Otto has led the successful integration of the two businesses and has played a central role in building Renewi's presence and reputation in the Benelux region.
Otto has extensive leadership experience within a number of blue-chip industrial companies including United Technologies, GE Plastics and GE Security. Prior to joining Renewi, Otto spent six years at UTC where his roles included President of Fire and Security Field Continental Europe, a €1bn business with over 8,000 employees. Otto has a track record of delivering profitable growth and has led a number of large scale integrations, including the post-merger integration of GE Security and UTC Fire and Security divisions.
There is no further information to be disclosed in respect of Otto de Bont under paragraph 9.6.13 of the FCA Listing Rules.
Colin Matthews CBE, Renewi Chairman, commented:
"We are grateful for Peter's strong and effective leadership over nearly seven years, particularly with the creation of Renewi last year, and we will miss him. We understand that his new role is a great opportunity for him and we wish him well.
"Otto was recruited two years ago as part of our succession planning. The Board is delighted with his contribution since joining, and pleased to confirm his promotion to CEO from April 2019."
Peter Dilnot, Renewi CEO, commented:
"I have enjoyed my time leading both Shanks and Renewi. The benefits from our transformational merger are coming through strongly, and the business is well placed for future growth with a clear vision, dedicated employees and advantaged market positions. I look forward to continuing to work closely with the Board and all my Renewi colleagues in the months ahead, and to handing over seamlessly to Otto next year."
For further information
Richard Mountain/ Susanne Yule +44 (0)20 3727 1340
About Renewi plc
Renewi is a leading waste to product company that gives new life to used materials every day. We have more than 8,000 employees working at 200 sites across Europe and North America. Our extensive operational network means we are always close to our customers.
For Renewi, waste is a state of mind, and an opportunity. Our many years of knowledge and experience, combined with a broad range of services, allow us to offer sustainable, practical recycling solutions. We use innovation and the latest technology to turn waste into useful materials such as paper, metal, plastic, glass, wood, building materials, compost and energy. In other words, we turn today's waste into tomorrow's raw materials.
The result of our work is less waste and contamination, a smarter use of scarce raw materials, and a reduction in carbon emissions. This means that we are contributing towards a cleaner, circular world in which we "waste no more".
Renewi was created in 2017, following the merger of Shanks Group plc with Van Gansewinkel Groep BV, and is listed on the London Stock Exchange. Visit our website for more information: www.renewiplc.com. Images are available at www.renewiplc.com/imagelibrary.
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