Ian Wakelin, Biffa’s chief executive (pictured), will leave the company after eight years at the helm. He will be replaced by Michael Topham, currently chief financial officer (CFO), once a new CFO has been appointed.
The move was announced in a statement by the company, alongside the publication of its results for 2018.
Wakelin advised the board that he no longer wanted to hold a full time executive role and would therefore leave the business once its succession plan had been put in place.
Ken Lever, Biffa chairman, said: “Ian can feel extremely proud of what he has achieved. He will be leaving a business in good health – the results of the growth strategy which he and his colleagues have been implementing for the last eight years.”
Wakelin said that he would leave “satisfied that we have achieved a great deal, including successfully bringing the business back to the stock market”.
He added: “I would like to thank all of my colleagues across the business for their support and commitment over the years. Biffa is a great business with a great future ahead of it. I wish Michael every success for the future as he takes the business on to a new and exciting stage in its development.”
Topham, who trained and qualified as a chartered accountant with PwC, joined Biffa in September 2010 when it was acquired by Greenstar UK where he was finance director. He was Biffa’s divisional managing director, then divisional finance director before becoming CFO in 2013.
Lever added: “Michael has played a major role in the development of the group and the evolution and implementation of its strategy since he joined the business in 2010. Moreover, he played a central role in, and has become widely regarded since, the group’s IPO. We believe the business will continue to be in excellent hands when Ian hands over the reins.”
Biffa’s board also announced the appointment of Carol Chesney as a non-executive director. She will assume the role of chair of the audit committee in place of David Martin, who was appointed interim chairman earlier in the year.