Close the Loop Group has appointed long-time team member Kesh Nair as its new CEO for Australia, in a move that signals the company’s sharpened strategic focus and leadership reset following a comprehensive internal review.
Nair, who steps into the role effective 16 July, has been with Close the Loop for more than 17 years, most recently serving as general manager of the company’s Australian Recycling and Renewed Solutions divisions. He will also join the board as an executive director.
With a strong track record in product development, marketing, and ITAD capability expansion, Nair has been instrumental in driving key partnerships across Southeast Asia and brings deep operational knowledge to the role. His promotion comes as the ASX-listed circular economy group restructures its operations around three core business units: IT Asset Disposal (ITAD), Recycling, and Packaging.
Leadership overhaul
The changes are part of a broader executive restructure following the company’s strategic review, which found that Close the Loop had become “overly diversified and thinly spread”, undermining strategic growth. In response, the company is simplifying its structure, empowering divisional leaders and exiting non-core business areas.
Among the additional leadership changes:
- Matthew Zimmer has been appointed CEO of Close the Loop North America. With deep expertise in the international ITAD sector, Zimmer brings experience from senior roles in tech asset recovery and data security.
- Lawrence Jaffe will step down as interim CEO and board member and take on a newly created role of chief commercial officer, focusing on corporate development and portfolio optimisation.
- Grant Carman, previously interim chair, has been appointed chairman of the Board.
- Marc Lichtenstein will transition from CFO to the newly created role of chief risk officer and company secretary, effective 1 September.
- Chris Dimitriadis, currently group financial controller, will step into the CFO role.
- Meanwhile, founder Joe Foster will remain with the business, transitioning into a new position yet to be detailed, and continuing as the company’s largest shareholder.
Strategic reset: Focus on three pillars
The internal review has prompted a formal reset of Close the Loop’s business model. The company will now operate three independently managed business units:
- ITAD, which has been earmarked as the primary growth engine;
- Recycling, including materials recovery and processing; and
- Packaging, which encompasses sustainable packaging design, production, and lifecycle services.
Each division will be led by a global head with direct accountability for performance and growth, a move aimed at improving agility and profitability.
According to the company, the new structure will streamline decision-making and reduce management costs, while allowing Close the Loop to double down on key sustainability offerings in e-waste, resource recovery, and circular packaging.
The company stated that this refocus is designed to enhance value creation for shareholders, bolster customer outcomes, and position Close the Loop for sustainable long-term growth.
