New D1 Oils management structure

Dec 23 2008 by Graeme King, The Journal

BIOFUELS company D1 Oils has announced a slimmed-down management structure six months after closing down its two UK refineries.

Chief executive Elliott Mannis is leaving the business and his responsibilities will now be taken on by finance and commercial director Ben Good.

Non-executive chairman Lord Oxburgh of Liverpool is also stepping down, with his role to be filled by Brian Myerson, currently chairman of Principle Capital Group, which owns 27.5% of D1.

D1 said its size and scope as a business had been significantly reduced since closing its refineries on Teesside and Merseyside in May this year, with the loss of 58 jobs.

Northumberland entrepreneur Karl Watkin stepped down as a non-executive director in March, but retains a stake in the business.

D1 now comprises a wholly-owned plant science business, D1 Oils Plant Science Ltd (DOPSL) and a 50% stake in a joint venture with BP for the planting and harvesting of its fuel crop Jatropha curcas.

Total headcount has been reduced from 154 in January 2008 to 96 currently.

The company will also lose non-exec directors Clive Morton and Chris Leaver, though the latter will continue to have an active involvement as a scientific adviser to DOPSL.

Mr Myerson said: “Lord Oxburgh and Elliott Mannis have overseen a period of considerable development and have made significant contributions to refocusing the business upstream. We also thank Clive Morton and Christopher Leaver for all they have contributed to the board.”

Mr Mannis said: “We are proud of what we have achieved in developing and reshaping D1 Oils’ business. The company is now refocused on upstream plant science and planting. The team is very capable.”

We are proud of what we have achieved in developing and reshaping D1 Oils’ business