The founder and chief executive South Perth-based Australian Renewable Fuels, Darryl Butcher, will be replaced by Australian head John Lillywhite after his resignation today.
The full text of a company announcement is pasted below
Australian Renewable Fuels Limited (ASX Code: ARW) ("ARFuels") announces the retirement of Managing Director and company founder Darryl Butcher.
Mr Butcher has resigned from his Executive and Board positions with immediate effect and will now pursue his private business interests.
With Mr Butcher's resignation, ARFuels has appointed John Lillywhite as Group Chief Executive Officer. Mr Lillywhite was previously CEO of the company's Australian operations.
ARFuels' Chairman, Alan Mulgrew, paid tribute to Mr Butcher for his foresight in establishing the company and his commitment to its development.
"I would like to thank Darryl for his substantial contribution and wish him well with his future endeavours," said Mr Mulgrew. "Darryl has also agreed to provide consultancy services to the Company on strategic issues as required."
Mr Butcher said he was very pleased to have seen ARFuels grow to its current size and believed the company had an exciting future.
"I remain a substantial shareholder in ARFuels and I believe the management strategy going forward will see this company grow in size, significance and profitability," he said.
Mr Lillywhite joined ARFuels in January 2007 and is recognised as one of Australia's leading energy executives.
He was previously founding CEO of Verve Energy, Western Australia's major power generation company. Prior to this, he was General Manager Generation and earlier General Manager Retail, for Western Power, the former WA State-owned energy utility.
Lillywhite began his working life with Telecom Australia and held senior management positions in telecommunications in Australia and overseas before joining Western Power.
