PureCycle Technologies Inc., Orlando, Florida, has announced three leadership changes effective Aug. 5, expected to propel the company's transition to a leading global manufacturing and technology company.
Mike Otworth, chairperson of the board of directors and CEO of PureCycle, will resign to return to Innventure, a company he helped found. Dustin Olson, PureCycle's current chief operating officer and chief manufacturing officer, is being promoted to the role of CEO and joining the board of directors. According to Purecycle, Olson has been with the group since 2021 leading manufacturing and operations.
Dan Coombs, a current member of PureCycle's board of directors, will be appointed, upon Otworth's departure, to the executive chairperson of the board of directors.
"I am an entrepreneur at heart, and am excited to see PureCycle's progress over the last seven years,” Otworth says. “Taking PureCycle from an early concept to a publicly-traded company has been an honor. Dustin has proven to be effective, eager and has an unprecedented work ethic. Dustin will lead this team and company into the next phase and will make PureCycle teams past and present proud."
Olson has more than 20 years of plastics, petrochemical and refining experience in the United States, Europe and China. Before joining PureCycle, he led multiple LyondellBasell commercial and operational businesses, delivering substantial growth in volume and profitability.
"I am honored and humbled with this appointment as PureCycle's next CEO,” Olson says. “I am excited for the opportunity to lead PureCycle during this important time. We have a strong and dedicated team to help our efforts in scaling our technology and addressing the planet's plastic waste crisis."
Coombs, a former executive vice president for LyondellBasell and current member of PureCycle's board of directors, has industry and business experience with new technology facility startups. He also has a strong background in supercritical fluids. He will consult Olson's teams through the startup and initial operations.
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