Renewi PLC (LON:RWI) has announced that its chief executive officer, Peter Dilnot is leaving the company in order to take up the role of the chief operating officer of Melrose Industries PLC (LON:MRO), the FTSE 100-listed firm which earlier this year took over GKN after a bitter bid battle.
The waste recycling company said Dilnot will continue as its chief executive officer through the remainder of the current financial year, with Otto de Bont, currently managing director of Renewi Netherlands’ NL Commercial Division, to succeed him in that role in April 2019.
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The firm noted that 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.
It pointed out that NL Commercial is Renewi's largest division and the Dutch market leader in recycling services, and de Bont has led the successful integration of the two businesses.
The group also noted that de Bont has had extensive leadership experience within a number of blue-chip industrial companies including United Technologies, GE Plastics and GE Security.
Colin Matthews, Renewi’s 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.”
He added: "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."