Date: January 14, 2010
Source: Greenstar North America
Greenstar Announces Appointment of CEO, Michael Simmons
Houston-based Greenstar North America (www.greenstar-na.com), the country's fastest growing recycling company, today announced the appointment of Michael Simmons as its Chief Executive Officer.
Simmons, who joined Greenstar in December 2009, brings an exceptional track record with 20 years operational leadership experience in senior positions. Most recently, Simmons came to Greenstar from Q Investments where he served as Senior Operating Partner. Q Investments is a multi-billion dollar, multi-strategy hedge fund. Simmons also spent 20 years at GE (General Electric) where he held international leadership positions in Corporate Finance, Mergers and Acquisitions, Business Development and Operations. Jim Barry, CEO of NTR plc said, "We are pleased to welcome Michael to Greenstar North America. With the need for enhanced sustainability efforts continuing to increase worldwide, Michael's experience and leadership will be of tremendous value to our organization and in delivering on our business objectives. Greenstar is a core business for NTR and we are strongly committed to the recycling industry over the long term."
NTR has invested $710 million in its U.S. renewable energy and recycling businesses with $315 million of that committed to recycling.
Simmons will replace Mike Wynne, who has been serving as interim CEO during Greenstar's chief executive search. Wynne will continue in his role as Chairman and Chief Executive of NTR's International Recycling Operations. NTR, the international renewable energy group, is a leading developer of renewable energy and recycling, based in Dublin, Ireland.
Wynne added, "In 2007, Greenstar entered the North American market. Now, in just three short years, we have established ourselves as a leading recycler in America bringing innovative and sustainable solutions to our customers. Simmons' successful track record as CEO and his expertise in operations, finance and business development will support Greenstar's growth as one of the leading recyclers globally."
Greenstar has achieved significant increases in recycling tonnage collected in its key markets with the introduction of recycling improvements, including single-stream recycling and close work with local municipalities and commercial partners. Recycling participation rates increase dramatically when customers have the convenience of putting all their recyclables into one large container for collection. With innovation and investment, Greenstar has increased recycling rates in Texas by 60 percent in Austin, 200 percent in San Antonio and 300 percent in Dallas. In comparison, according to the U.S. Environmental Protection Agency (EPA), the national recycling rate has remained almost unchanged for the last several years.
"At $86 billion, the U.S. recycling industry is a large, important contributor to the economy," commented Simmons. "It is also an important, cost-effective way to reduce greenhouse gases and preserve our natural resources. I look forward to continuing to grow the Greenstar business."
Simmons earned his bachelor's degree in finance from California State University, Fullerton and received his masters in business from Wharton Business School at University of Pennsylvania. He is a Board member of i2 (NASDAQ: ITWO) and serves as a trustee for Sigma Pi Educational Foundation. Simmons currently resides in Houston.
About Greenstar North America
Greenstar is America's fastest growing recycling company backed by one of the world's largest private recycling companies. Greenstar provides sustainable recycling solutions in the recycle processing, commodity upgrading and commodity trading sector of the solid waste market. Greenstar entered the U.S. market in 2007 and quickly established a platform for growth by partnering with some of the leading companies in the industry. The company handles two million tons per year of recyclables through a network of 16 processing facilities.
For more information visit www.greenstar-na.com.
About NTR plc
NTR plc, the international renewable energy group, builds and runs green energy and resource-sustaining businesses. Founded in 1978, NTR has evolved from being a developer and operator of infrastructure in Ireland to an international developer and operator of renewable energy (wind, solar and ethanol) and sustainable waste management businesses in the USA, UK, and Ireland. The Group employs over 4,100 people.
For more information visit www.ntrplc.com.
For Greenstar North America