(Bathgate, UK, 21 March 2016) Redeem, the leading mobile phone recommerce and recycling company in Europe, is delighted to announce the appointment of Paul Adams as Chief Executive Officer. Paul’s outstanding record of leadership and transformation with global businesses makes him ideally qualified to drive the company’s further growth across Europe and other world regions.
Paul takes up the CEO role at Redeem as the company continues to grow strongly, both organically and through acquisitions. Redeem’s last full year results saw revenues of £80 million, having quadrupled in four years. The company continues to deepen its relationships with mobile network operators in multiple territories, while also operating successful B2B and consumer channels. Redeem now operates across 26 countries in three continents.
Paul's career to date includes proven success in strategic, commercial and operational roles at leading international businesses, together with hands-on experience of M&A, from deal through to integration. Paul joins from Glory Global Solutions, where he became CEO following the acquisition of Talaris. Paul began his career at Diageo, taking senior roles before moving on to Smith & Nephew and latterly Talaris where as CEO he led the transition of the company to its new owners.
Trevor Bayley, Chairman of Redeem, said: "Redeem's ambition is to become the world's number one mobile recommerce business̶̶ Paul shares that ambition, and has the drive, experience and talent to make it happen. We're a customer-focused organisation, and Paul will enhance and develop our capabilities, with the goal of continually exceeding our customers' expectations wherever they operate. We're also a growing business in a dynamic sector, and Paul's record is ideal for us - he joins from a $1 billion turnover global business where he worked with sizeable cross-border customers and delivered strong returns to shareholders."
Paul, who will begin working at Redeem on 18 April, said: "I've been highly impressed by the people working at Redeem, where I have found a real can-do culture, capable professionals, and a company that already feels like a great place to work. I want Redeem to achieve a clear leadership position in our chosen markets, and for us to be the brand of choice for mobile network operators, manufacturers and consumers alike. Mobile network operators and other international companies are investing heavily in device recommerce, confirming that this is an innovative and fast-growth sector where there is the opportunity to expand the market."
Claes Svensson is stepping back from an executive role at Redeem following three and a half years as CEO, during which he developed an ambitious vision for the group that has helped Redeem arrive where it is today. Trevor Bayley said: "Claes leaves Redeem the leader in the United Kingdom, the Nordics, Iberia and the Middle East, and with fledgling operations in Central Europe. He has overseen a quadrupling of revenues and led the group's transition from a UK focused company to a true international player. We would like to thank Claes warmly for his achievements at Redeem and wish him every success in his future career."
Claes Svensson commented: “I am pleased to hand over the reins of Redeem to the very capable hands of Paul Adams. His strong operational focus will take Redeem through the next exciting phase. I am pleased to remain a shareholder in the business and will now look to expand my portfolio of non-executive directorships.”
Redeem takes back used mobile phones and other devices from corporates and consumers, testing and evaluating them before selling them, both within and across territories, to businesses and other consumers. The company has partnerships in place with several major network operators and over a decade of experience in the space.
A number of recent milestones for the company are listed below.
- 1.8 million phones recommerced and recycled in calendar year 2015
- £65 million given back to customers for their old phones in calendar year 2015
- Officially opened Middle East and North Africa office in Dubai in 2015
- Under Redeem’s continuing partnership with Telefónica UK on the O2 Recycle scheme, the largest of its kind in Europe, £125 million has now been returned to consumers
- In June last year Redeem extended its consumer-facing Envirofone offer with the launch of online shop selling pre-owned mobile phones
- New contracts signed in the last year include Three, O2 and Vodafone
For further information, images or interview requests please contact Powerscourt:
0207 324 0492 / 07894 709 826
0207 324 0492 / 07931 695 898
Redeem is a leading global provider of recommerce solutions for mobile phones and other handheld electronic devices.
Redeem takes back used mobile phones from corporates and consumers, testing and evaluating them before selling them, both within and across territories, to businesses and other consumers.
With over 20 years’ experience, Redeem operates in 26 countries on three continents, with regional offices in the UK, Iberia (Spain), Nordic/Baltic (Sweden and Estonia), Asia (Hong Kong) and Middle East (Dubai). £65 million has been returned to customers for their old phones in calendar year 2015. Under Redeem’s continuing partnership with Telefónica UK on the O2 Recycle scheme, the largest of its kind in Europe, £125 million has now been given to UK consumers.
Redeem’s customers around the world include Telefónica UK (O2 Recycle), Vodafone, Bell Canada, CellC, Telia Sonera and Tele2. The recycled mobile phone market is showing strong and accelerating growth, according to Technavio’s 2014 – 2018 Global Green and Recycled Mobile Phone Market report, with 79.5m units expected to be recycled in 2018, and 14.1% growth in 2014 moving up to 20.8% growth in 2018.
Around 95% of the traded-in devices Redeem handle are data-wiped, refurbished and resold. The 5% that cannot be restored are fully recycled, leading to zero waste going to landfill. Redeem provides the data and certification to satisfy the WEEE Directive and high quality CSR programmes.