Agilyx makes several executive and board changes

Tigard, Oregon-based Agilyx AS, which chemically recycles plastic into chemical intermediates, fuels and virgin-like plastics, has announced changes to its executive team and board of directors in preparation for a public financing listing expected by year-end in the Nordic region.  

Peter Norris, chairman of U.K.-based Virgin Group, has assumed the chairman position at Agilyx. Norris has served on the Agilyx board since 2014.

Effective Aug. 17, Tim Stedman will join Agilyx as chief executive officer. Stedman joins Agilyx after serving as the senior vice president of strategy and corporate development at Pennsylvania-based Trinseo, a global materials company focused on the manufacturing of plastics, latex and rubber. Prior to his role at Trinseo, Stedman spent more than 20 years at ExxonMobil Chemical in various senior operational and development roles. Stedman will be based in Switzerland.

Agilyx’s current CEO Joe Vaillancourt will assume the role of president of Cyclyx International Inc., an affiliated company Agilyx recently launched to advance its plastic feedstock management business. Vaillancourt will be based in Portsmouth, New Hampshire.

“I would like to thank Joe and welcome Tim,” Norris says. “Together they provide a world-class combination of skills in waste management and the chemical and plastics industries, central pillars to Agilyx´s long term strategy to transform global plastic recycling rates.”

“This is an exciting time for Agilyx,” Vaillancourt adds. “I have been part of commercializing and advancing companies and technologies for over 30 years, and my focus at Agilyx has been to bring the company to this inflection point. I look forward to concentrating on the plastics feedstock side of the business, which is an integral part of chemical recycling.”

Agilyx also welcomes Preben Rash-Olsen as a new board member. Rasch-Olsen is currently the investment director at Carucel Holding, a Norwegian family office, and previously worked as an equity analyst at Svenska Handelsbanken and Carnegie for a combined 18 years covering companies within the renewable energy, retail and consumer goods sectors.