Mr Pike has been CFO at Biffa for four years and the waste management company said he had “contributed significantly to the strong performance of our business”.
His resignation from the role comes less than two months after the Biffa board agreed sell the company in a £1.3 billion deal to equity company Energy Capital Partners (see letsrecycle.com story).
He is now expected to depart Biffa “no later than 30 April 2023”, with a replacement to be announced shortly. Mr Pike will replace Adrian Marsh at DS Smith, who is retiring next year.
Commenting on the announcement, Michael Topham, CEO of Biffa, said: “Richard has contributed significantly to the strong performance of our business and the development and delivery of our strategy, as we have repositioned Biffa as an enabler of the circular economy.
“I would like to take this opportunity to thank him, on behalf of the Board and his colleagues across Biffa, for his commitment and contribution during his time here. We wish him all the best for the future.”
‘Exciting’
Miles Roberts, group chief executive officer at DS Smith, said Mr Pike was joining at a “very exciting time” for the business.
He said: “We are delighted that Richard is joining us at a very exciting time for DS Smith. Richard has an excellent track record as a CFO in manufacturing businesses and great experience in the recycling and sustainability sectors.”
Both DS Smith and Biffa published statements on (18 November) which included comments from Mr Pike.
I’m very proud to be joining DS Smith
- Richard Pike
In his statement on the DS Smith website, Mr Pike said: “I’m very proud to be joining DS Smith, a strong leader in the industry and a truly innovative brand in sustainability and the circular economy.
“The company continues to grow across Europe and North America and I am very much looking forward to being part of it.”
On the Biffa website, he said: “I’m proud of Biffa’s strong performance during my tenure and I retain a strong belief in the group’s strategy, the leadership team, and the efforts that all of our employees make every day in serving the communities in which we operate.
“After four years with the group, I’m now looking forward to a new personal challenge and I wish Michael and the team the very best for the future.”
Subscribe for free