Jonathan Short has left ECO Plastics only a few months after the company he founded was sold.
Short (left) founded the company and had stayed on after its sale last December to Aurelius.
He said: “I have decided to step down from my role at ECO Plastics to pursue new projects. The time is right to move on to pastures new.
“ECO Plastics has accomplished a great deal since its humble beginnings and I would like to thank all of my colleagues within the company and the industry for their support over the years.”
The company was put up for sale in December after Ludgate Environmental Fund, which had invested some £5m, said it had written off its book value of £2m at September 2014.
Ludgate said at the time: “There have been recent operational challenges at ECO Plastics and unfavourable market conditions. Unfortunately, this situation has not improved in recent months and, although the company has been working with creditors to find a solvent solution, this is no longer expected to be achieved.”
In December 2013. ECO Plastics reported annual pre-tax losses of £4.9m. It operates the largest plastic bottle recycling facility in Europe at Hemswell, Lincolnshire.
Chris Brown, ECO Plastics’ chief executive, said: “Jonathan Short has decided that following the purchase of the business by Aurelius, he will leave ECO Plastics to focus on other business interests.
“Jonathan was the founder of ECO Plastics and has also played a leading role in the industry over many years. We thank Jonathan for this invaluable contribution to the business and he leaves with our very best wishes for the future, both personally and professionally.”
Short resigned in January as chair of the Resource Association