Ex-BP executives at helm of successful ventures

Tony Hayward’s success at England’s Genel Energy plc proves there is life after BP. Hayward was appointed CEO of Genel Energy, an Anglo-Turkish exploration and production company with world-class oil and gas assets, in November 2011. He was group chief executive of BP plc from 2007 to 2010. Although an independent E&P, the quality of Genel’s assets are more typically owned by major oil companies.
Also proving it is Ian Smale, formerly BP’s head of group strategy and M&A, who is CEO of Hydrodec Group plc, a London-based clean-tech industrial oil re-refining group.
Smale’s arrival in January 2012 has given credibility to a young business with proven technology and demand for its services but which lacked management capable of taking it to the next stage.
The first half-year results for 2013 show it coming close to breaking even, thanks in part to a new U.S. joint venture, and with plans in the pipeline to recycle other products, such as lubricants and motor oils that potentially offer bigger global growth opportunities.
In April, Hydrodec announces a major expansion of its North American business through a strategic partnership with G&S Technologies Group (“G&S”), a leading New Jersey-based electricity transformer recovery services group with a 50-year track record of serving the industrial and utility industries throughout the U.S.
The deal involves the creation of a new entity, Hydrodec of North America LLC, in which Hydrodec will ultimately own 50.1% and contribute its existing re-refining plant in Canton, Ohio. The company will be one of the largest handlers and processors of waste and polychlorinated biphenyl (“PCB”) contaminated transformer oil in North America. The partnership will also enable Hydrodec and G&S to accelerate their growth in the world’s biggest energy market, while sharing the risks and capital investment between strongly complementary businesses.
(August 1, 2013)