Redeem loses top execs after boardroom dispute


CEO Hopkins and COO Petrondas leave the mobile phone recycler following differences with chairman

Mobile phone recycler Redeem has confirmed CEO Curt Hopkins and COO Pete Petrondas have left the company.

Falkirk-based Redeem said both Hopkins (pictured right) and Petrondas (pictured left) left due to “differences” with chairman Trevor Bayley over the direction the business was taking.

Bayley has now moved from a part-time role as Redeem’s chairman to become executive chairman, running the company alongside chief financial officer Frank Waters, who joined in June last year.

The news comes just over a year since Hopkins, formerly MD of Vodafone Business Services, and Petrondas, former chief executive of Eazyfone and Envirofone, led a management buy-in of the business from founders, Jamie Rae and David McCabe.

Bayley, along with his wife Angela, owns the majority share of Redeem, though both Petrondas and Hopkins took minority stakes during last year’s acquisition.

Petrondas is understood to have sold all his shares in the company, but it is thought that Hopkins has retained his holdings.

Bayley confirmed both have now left the firm’s board.

He said: “Curt and Pete have both left. It happened over the course of the last few months.

“I am now taking a more active role as executive chairman of the business, and we have a very long-term vision for the business, developing different businesses across Europe over a five-year time horizon.”

Redeem is one of the UK’s leading handset recyclers, providing services for a number of major companies including O2, Tesco, Boots and Amazon.