21/01/2014 - 10:27

CO2 Group dumps CEO in revamp

21/01/2014 - 10:27

Bookmark

Save articles for future reference.

CO2 Group has sacked long-serving chief executive Andrew Grant as it pushes on with its bid to recast the business as an environmental services and aquaculture player.

CO2 Group dumps CEO in revamp
CO2 Group chairman Ian Trahar.

CO2 Group has sacked long-serving chief executive Andrew Grant as it pushes on with its bid to recast the business as an environmental services and aquaculture player.

CO2 said changes in market circumstances had brought on the "disappointing" decision to terminate Mr Grant, who has led the company since 2005. 

Under the company's management restructure, CO2 executive director corporate development Chris Mitchell and aquaculture managing director Rob Bell will take leading roles and report directly to executive chairman Ian Trahar.

The Abbott government's proposed scrapping of the carbon tax and general uncertainty in the carbon market have led the company to scale back its carbon operations and pursue new growth areas, most notably in aquaculture.

CO2 earlier this month wrapped up the $11.2 million takeover of Queensland prawn growing company Seafarm. 

CO2 said the acquisition would bolster its plans to develop its $US1.25 billion Project Sea Dragon business, based on developing a world-class land-based prawn farm in the north of the state.

Prefeasibility work for Project Sea dragon is under way at a 5-hectare facility near Exmouth.

Mr Grant was named Ernst & Young national entrepreneur of the year in the cleantech category in 2009, with judges applauding Mr Grant for making ‘green’ technology commercially viable, profitable and credible. 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options