Christchurch-based WasteCo Group has announced the appointment of David Peterson as chief executive, effective February 26.
Peterson’s experience spans across diverse sectors including engineering, manufacturing, logistics, and project management.
He has held senior positions in both listed and unlisted companies in New Zealand and Australia. He served as general manager of concrete across Victoria, Australia, for Boral Construction Materials, overseeing 40 sites.
Previously, he led General Cable’s operations as managing director for Oceania and China and held key roles across the Fletcher Group, including managing the Christchurch earthquake recovery business.
“David’s diverse skillset, including his strong analytical and engineering background, and broad and deep operational experience in senior roles perfectly aligns with the exciting opportunities WasteCo has in the New Zealand waste sector,” chairman Shane Edmond says.
Co-founder and current chief executive James Redmayne will transition to a new role within the company as business development general manager with effect from February 26.
Trading update
NZX-listed WasteCo says it has seen the successful integration of Invercargill-based firms it acquired last year. This includes Cleanways and Enviro South (trading as Cleanways and specialising in bulk liquid waste and potable water delivery) and Wastech Services acquired in June 2023, while the business of Bond Contracts Limited (BCL) was acquired in October 2023.
BCL provides waste collection services and operates transfer stations in Southland under a multi-year contract with the Invercargill City Council, Southland District Council and Gore District Council.
“Both acquisitions are trading strongly, have expanded the WasteCo service offering across the group and leverage WasteCo’s capability into new sectors in Southland, meeting customer needs for solution-based approaches,” the company says.
It says recent management changes across the group have led to improved operating performance. EBITDA expectations of $4 million to $4.5m for the six months announced at the half-year mark remain on track.
WasteCo says it remains focused on exploring new growth opportunities and acquisitions in 2024.
