Circular IT giant Foxway has appointed a new CEO amid efforts to “secure the right leadership to further scale operations on a global level”.
Having acquired its way into the UK in 2022 by purchasing Global Resale, Foxway last year sold a majority stake to private equity house Nordic Capital to further support its growth.
The Sweden-headquartered outfit already has over 1,000 staff, last year turning over €650m (Global Resale turned over £150m).
Citing figures suggesting that production can make up approximately 80% of a device’s lifecycle footprint, Foxway claims that by giving used devices a second life, it saves energy and finite resources that would otherwise be consumed in the manufacturing of new products.
It claims the total impact of a Foxway refurbished laptop is 11.10 kg CO2-eq, with the biggest impact being caused by the production and transport of parts that are used to refurbish the laptops.
New leadership push
Following an international search process, Patrick Höijer this week assumed the position as CEO, taking the reins from Martin Backman, Foxway’s Co-Founder.
Höijer was previously CEO of Nasdaq Stockholm-listed software provider Precise Biometrics. His appointment follows that of a new CFO and a new Chief People & Culture Officer in May.
The addition of Global Resale enabled Foxway to double the volume of devices it recovers and remarkets – it claims it handed over 2.4m devices to new users last year. Its UK base is in Braintree, which is also home to Computacenter Circular Services, which is plotting an ambitious expansion drive of its own.
Foxway’s latest exec changes are designed to help it “scale operations on a global level, both organically and through acquisitions”.
“I’m honored to have been appointed to lead Foxway, which clearly has a very experienced team dedicated to help customers support their digitalisation while also reducing their carbon footprint. I’m looking forward to getting to know the team to further build and develop Foxway and to contribute to the next chapter of growth,” Höijer said.
“It has been a privilege to lead Foxway since the start, and I’m extremely proud of what we have achieved together with all the talented and committed colleagues. In recent years, Foxway has grown significantly, both organically and via acquisitions, and now is the right time for me to pass on the baton. I am excited to support and follow the company’s continued development as a shareholder,” Backman added.
