Redeem has appointed a new CEO.
Paul Adams will take on the top job, having previously held operational positions in a number of organisations that have undergone acquisitions. This is something Redeem will look to take advantage of, revealing ambitions to grow ‘both organically and through acquisitions’.
Setting out his targets for the business, Adams said: ‘I want Redeem to achieve a clear leadership position in our chosen markets, and for us to be the brand of choice for mobile network operators, manufacturers and consumers alike.
‘Mobile network operators and other international companies are investing heavily in device recommerce, confirming that this is an innovative and fast-growth sector where there is the opportunity to expand the market
Adams will take over from former CEO Claes Svensson who will step down after three and a half years to seek non-executive opportunities within the business.
Billion pound opportunity
Redeem has so far used 2016 to place an enhanced focus on growing the business, having reported revenues of £80m at its last full year results. The company recently unified a number of its brands under the Redeem name in a bid to expand its market presence.
Speaking at the time, chairman Trevor Bayley described the rebrand as part of a plan to make the brand name more easily recognisable. He believed that this would enable the business to claim a greater share of the mobile recycling space, a market that is expected to hit £11.7bn in 2016.