The chief executive of Cory Environmental, Malcolm Ward, has decided to leave the company after 20 years, with Cory director Peter Gerstrom appointed in his stead.
Cory made the announcement today (July 26) as Mr Gerstrom, the Cory director formerly in charge of its £350 million Riverside Resource Recovery energy-from-waste incinerator being developed at Belvedere, officially took over.
Mr Ward joined the Cory Environmental Group in 1990 and was chief executive from 2005. Before this, he held the post of finance director and chief operating officer while the company was a subsidiary of logistics firm Exel.
In his role as chief operating officer, Mr Ward was involved of the sale of the firm from Exel to the private equity firm Montagu in 2005 and again in March 2007, to the current owners, EISER Infrastructure Limited, Finpro SCR S.A. and Santander Infraestructuras FCR.
Mr Ward held the post of chair of the waste and recycling trade body, the Environmental Services Association (ESA), between November 2008 and December 2009.
During his tenure, he worked to foster a closer working relationship with professional body the Chartered Institution of Wastes Management (see letsrecycle.com story).
Mr Ward attended Queen Mary College, University of London and studied mathematics and science and is a fellow member of the Association of Chartered Certified Accountants (FCCA).
Prior to joining Cory, he was a management accountant for a family-owed business. He lives in Dorset and has two adult children. Cory said that Mr Ward intends to take some time out before considering his next step.
Commenting on Mr Ward’s departure, a spokeswoman told letsrecycle.com: “Malcolm has said there is nothing really to add. It is a personal decision that he initiated the change as it is a good time for him and the business. And, the owners wanted a new chief executive in place for the smooth running of the business.”
Gerstrom
Cory’s new chief executive, Peter Gerstrom, joined Cory in 2003 and was formerly the director in charge of the £350 million Riverside Resource Recovery energy-from-waste incinerator being developed at Belvedere.
The large-scale energy-from-waste facility in South East London will be capable of treating 585,000 tonnes of residual waste each year when it becomes operational in May 2011 (see letsrecycle.com story).
The impending operational date was given as one of the reasons for Mr Ward stepping down.
Peter Gerstrom has an Oxford engineering degree and an MBA from London Business School. He started working in the waste industry 20 years ago promoting waste processing and recycling.
He worked for Onyx which later became Veolia, which included working at SELCHP. He was then director of municipal services at Cleanaway before joining Cory Environmental in 2003.
Mr Gerstrom became director of the Riverside Resource Recovery (RRR) project in 2008 and is a past chairman of the waste board at the Institution of Civil Engineers (ICE).
John Roberts, chair of the Cory Environmental board, said: “With Riverside less than one year from takeover, Malcolm was keen to hand over the running of the business at a point which would leave his successor best placed to lead the company through its next phase of development.
“Peter Gerstrom, the group’s current director in charge of Riverside will be succeeding Malcolm as chief executive officer with effect from 26 July. Both Malcolm and I wish Peter every success in his new role.”
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