Tim Stedman will take the put up as the brand new chief govt officer (CEO) at Storegga efficient Might 1, the decarbonization mission developer mentioned.
The corporate mentioned in a media launch that Stedman, who was chosen following an intensive world search course of, brings huge expertise in company growth and throughout the worth chain.
Upon assuming the function, Stedman will be a part of the corporate’s board of administrators. He succeeds Nick Cooper, who will stay concerned in Storegga and has been appointed to the function of govt chair, additionally efficient Might 1. Alan Sales space will step down as govt chair he’ll stay on Storegga’s board of administrators in a non-executive function, the corporate mentioned.
“Our goal has been to place Storegga as a number one, unbiased decarbonization mission developer with the monetary firepower to be a significant driver of worldwide industrial decarbonization efforts, by way of deployment of carbon seize and storage (CCS) and hydrogen tasks. Now we have made good progress within the early years of this effort however there may be a lot work forward of us. The timing is now proper to bolster Storegga’s supply functionality and Tim’s robust report of accomplishment on this space, plus his broad industrial and company growth expertise make him the appropriate chief for Storegga’s subsequent part”, mentioned Cooper.
“I’m excited for the chance to steer this formidable firm in delivering a rising portfolio of worldwide decarbonization tasks”, mentioned Stedman. “Storegga has made a powerful transformation below Nick’s management, and I welcome his insights to the corporate’s strategic route in his function as Govt Chair. I’m trying ahead to working with the remainder of the administration staff to construct on the robust basis laid by Nick, specializing in operational execution to ship worth for our shareholders, construct our buyer base and contribute to the communities the place we function”.
Stedman is the previous CEO of Agilyx Corp., a pacesetter in recycling applied sciences that unlock worth from plastic waste to allow a round financial system, the place he served from 2020 to 2024, Storegga mentioned. Earlier than his function at Agilyx, he held the place of senior vp for technique and company growth at Trinseo, the place he spearheaded the event of a mergers and acquisition technique. Stedman additionally served as senior vp of the Plastics and Feedstocks companies for the worldwide provide chain, and sat on the board of Americas Styrenics, a three way partnership between Trinseo and CP Chem. Earlier than his time at Trinseo, Tim collected over 20 years of expertise at ExxonMobil, holding varied management positions, Storegga mentioned.
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