TRANSPACIFIC CEO RESIGNS

TRANSPACIFIC CEO RESIGNS

TRANSPACIFIC Industries Group (ASX:TPI) CEO Robert Boucher will leave the waste management company at the end of June.

TPI chief financial officer Brendan Gill will step into the role temporarily, after Boucher (pictured) returns to the US for personal reasons.

Chairman Martin Hudson says Boucher's tenure was invaluable and the board was disappointed to receive the resignation.

"Bob has achieved a great deal in the 18 months he has led Transpacific and I know that he was looking forward to seeing the results of his reform efforts come to fruition," Hudson says.

"He leaves the company in much better shape than when he commenced, and positioned for a return to growth over the medium to long term."

He says Boucher was instrumental in the acquisition of Melbourne Regional Landfill, stabilising the company's balance sheet and implementing a new pricing strategy.

Boucher says he will assist Transpacific until a permanent replacement has been found.

"This is a great company which serves its customers and local communities well, and I have been proud to lead it," Boucher says.

"I regret the need to leave for personal reasons at this time, but I will continue to be available to Brendan and the senior leadership team during the transition."

The board will conduct a global search process for a new CEO, and will consider both internal and external candidates.

Boucher will not receive any bonuses, severance or termination payments.

*Please note: Transpacific Industries Group (ASX:TPI) completed a changed of name to Cleanaway Waste Management (ASX:CWY) on July 1, 2016

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