Mr Averill, 56, will formally retire next year when he is 57, but will remain at Shanks in an advisory role until then. New chief executive Tom Drury will replace Mr Averill in September.
 Michael Averill is retiring |
Michael Averill joined the Shanks Group in 1989 as a business development director for Rechem International Ltd. He became Managing Director of Rechem in 1992 and was appointed group chief executive in 1994.
Statement
The Shanks board said in a statement: “During his 13 years as group chief executive, Michael has successfully overcome many challenges, and he will be delivering to his successor a strong company, which is well positioned to benefit from the rapid changes that are taking place in the waste management sector.
It added: “The Board offers sincere thanks for his leadership and contribution over the years and wishes him every success for the future.”
Tom Drury
His replacement Mr Drury, 45, began his career with Unilever and PricewaterhouseCoopers. Since 1991, he has worked for United Utilities plc and was appointed as a main board director in 2005.
He was also managing director of Vertex, a subsidiary of United Utilities which provided outsourced business services, until its recent sale.
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The board said it “is delighted that Tom has agreed to accept the position of Group Chief Executive of Shanks, and we look forward to working with him.”
The new appointments were announced as Shanks issued its end-of-year results and a pre-tax profit increase of 15%.
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