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The technology-led provider of services for the circular economy has announced that Paul Cox has decided to step down as Chief Executive Officer and will transition to the role of Founder Director on the Group Board in January 2023.
Since joining Reconomy in 1999, initially as Operations Director, and serving as CEO for nearly 13 years, Cox has delivered transformational growth and spearheaded Reconomy Group’s successful evolution to becoming a leading provider of technology-led services to the worldwide circular economy. In that period, Cox’s energy and thought leadership has been instrumental in growing the business’ revenue and profitability more than tenfold, creating an international group with revenues of £1 billion. Through a focus on innovation, organic growth and key acquisitions, Cox has developed leading market positions in the recycle, compliance and re-use segments of the sustainability sector. He has transformed Reconomy from a UK SME into an international business of scale with a unique offering and a bright future. In October this year, Reconomy Group was awarded the British Private Equity & Venture Capital Association (BVCA) Award for Excellence in ESG.
Cox will work closely with the Board and his successor to support the continued evolution of the business, actively contributing to the Group’s corporate development and retaining personal responsibility for Reconomy Group’s social value programme RSVP. His vision of technology-enablement, dynamic and accurate data for customers and dedicated service propositions for a broad range of industries will remain at the core of Reconomy Group’s strategy.
Cox commented: “It has been an honour to develop and work with such a talented and dedicated team over the last 23 years and I am so proud of all we have achieved. Thanks to our hard work, Reconomy Group is delivering industry-leading circular economy solutions that allow businesses to achieve their sustainability goals. I am confident this is the right time for me to take this decision, for me personally and for the continued execution of the Company’s long-term strategic plan. I look forward to supporting the new chief executive during this next phase of our growth as a member of the Board.”
Bob Ellis, Chair of Reconomy Group, said: “Paul has led the creation and growth of Reconomy over more than two decades, transforming the business into a leading provider of technology-led circular economy services to brands around the world. During his tenure as CEO, Paul made a significant contribution to businesses that want to improve their ESG outcomes, conserve natural resources, and embrace the circular economy. Very few people can match his significant contribution to creating a more sustainable world. I look forward to continuing to work with Paul on the Board as we evolve and grow the business in this exciting next phase of its development.”
Following the conclusion of a succession planning process, Reconomy Group’s new CEO will be announced in January.
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