Renewi chief executive Otto de Bont has stepped down after the recycler was bought by a consortium of Macquarie Asset Management and British Columbia Investment Management Corporation.
The global investment giants completed their acquisition of the London-based firm this month, pledging to boost its position across the Netherlands, Belgium, France and Portugal.
De Bont joined Renewi in 2017 and became its chief executive two years later. A successor will be announced “in due course” said the company’s new owners.
Paul Mitchener, a director at Macquarie and incoming chairman at Renewi, said he was “grateful” for De Bont’s “outstanding leadership”.
“His drive and commitment to sustainability have not only reshaped the company but have set a benchmark for the industry,” he added. “We sincerely appreciate his significant contributions.”
De Bont said his time at Renewi had been “incredibly rewarding”.
“I am glad to have contributed to the transformation of Renewi, making it the leading pure-play recycler in Europe,” he added.
“With the rapid transition of our industry and demand for low-carbon secondary materials increasing, the company is ready for its next chapter.”
