Malcolm Ward leaves Cory Environmental Date: 26-07-2010 Malcolm joined the group in 1990 and became Finance Director in 1998, and then Chief Operating Officer in 2004, while Cory was a subsidiary of Exel. He was subsequently appointed as Chief Executive Officer in 2005, responsible for formulating and implementing the strategy and business plans for the development and growth of the business. Malcolm played a key role in the successful sale of Cory to Montagu Private Equity in April 2005, and again in March 2007, to the current owners, EISER Infrastructure Limited, Finpro SCR S.A. and Santander Infraestructuras FCR. Throughout his time with the business, Malcolm has been influential in driving its key investment vehicle, the Riverside EfW project and more recently been instrumental in developing the current portfolio of resource recovery opportunities being pursued by Cory. John Roberts, Chairman of the Board, said: "With Riverside less than one year from takeover, Malcolm was keen to hand over the running of the business at a point which would leave his successor best placed to lead the company through its next phase of development. Peter Gerstrom, the Group's current director in charge of Riverside will be succeeding Malcolm as Chief Executive Officer with effect from 26 July. Both Malcolm and I wish Peter every success in his new role." Malcolm intends to take some time out before deciding on his next career step. Peter Gerstrom joined Cory in 2003 and has been Director of Riverside Resource Recovery since 2008.

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