Universal Salvage PLC
09 January 2004
UNIVERSAL SALVAGE PLC
Universal Salvage plc is pleased to announce that Nigel Sandy is to join the
board as an executive director, with effect from 12 January. At the end of March
2004, Mr Sandy will take over the role of chief executive from Martin Hynes, who
will remain on the board as an executive director in order to complete a smooth
handover. Martin's intention is to retire from the board completely on 30 June
Nigel Sandy has substantial experience of the environmental services and waste
industries, having worked in the sector for the last 14 years. From May 2001 to
July 2003, he was chief executive of Waste Recycling Group plc, until its agreed
sale to Terra Firma Capital Partners for £530 million. Before that, Nigel spent
10 years as managing director of Hanson Waste Management, the waste management
and renewable energy services business of Hanson PLC. As managing director, he
was responsible for the successful growth of the business from a greenfield
operation into a broadly based business, generating profits of £16 million. The
waste business was subsequently sold to Waste Recycling Group in 2001 for £185
From the early seventies, Nigel held a number of financial appointments with
Boskalis, the Dutch dredging and contracting group, leaving as International
Finance Co-ordinator in 1986 to join ARC Group, part of Consolidated Gold
Fields. ARC was later acquired by Hanson in 1989.
Nigel was also Deputy Chairman and later Chairman of The Environmental Services
Association, the trade association for the waste management industry, for four
years, between 1994 and 1998. In November 2003, he was presented with a Life
Membership Award for his contribution to the Waste Industry.
Martin Hynes, chief executive, said,
'I am absolutely delighted that a man of Nigel's calibre and experience will be
joining Universal. His knowledge of the environmental services and waste sectors
is immense and will be of particular benefit as the end of life vehicle arena
becomes increasingly important to the group. I look forward to working with him
to ensure a smooth handover.'
Alexander Foster, chairman, said,
'I am pleased to welcome Nigel Sandy to the group as chief executive designate.
We believe his business skills and experience are an excellent fit with
Universal. I would also like to thank Martin Hynes on behalf of the board for
his important contribution to the group over the last six years.'
Universal Salvage plc Tel: 020 7448 1000 on 9 Jan
Martin Hynes, chief executive Tel: 01234 762283
Biddicks Tel: 020 7448 1000
Nigel Sandy was a director of Waste Recycling Group plc from May 2001 until his
resignation on 31 July 2003.
Save as set out above, there are no details in relation to Nigel Sandy to be
disclosed under paragraph 16.4 of the listing rules.
This information is provided by RNS
The company news service from the London Stock Exchange