Tim Stedman will take the post as the new chief executive officer (CEO) at Storegga effective May 1, the decarbonization project developer said.
The company said in a media release that Stedman, who was chosen following an extensive global search process, brings vast experience in corporate development and across the value chain.
Upon assuming the role, Stedman will join the company’s board of directors. He succeeds Nick Cooper, who will remain involved in Storegga and has been appointed to the role of executive chair, also effective May 1. Alan Booth will step down as executive chair he will remain on Storegga’s board of directors in a non-executive role, the company said.
“Our objective has been to position Storegga as a leading, independent decarbonization project developer with the financial firepower to be a meaningful driver of global industrial decarbonization efforts, through deployment of carbon capture and storage (CCS) and hydrogen projects. We have made good progress in the early years of this effort but there is much work ahead of us. The timing is now right to reinforce Storegga’s delivery capability and Tim’s strong record of accomplishment in this area, plus his broad industrial and corporate development experience make him the right leader for Storegga’s next phase”, said Cooper.
“I am excited for the opportunity to lead this ambitious company in delivering a growing portfolio of global decarbonization projects”, said Stedman. “Storegga has made an impressive transformation under Nick’s leadership, and I welcome his insights to the company’s strategic direction in his role as Executive Chair. I am looking forward to working with the rest of the management team to build on the strong foundation laid by Nick, focusing on operational execution to deliver value for our shareholders, build our customer base and contribute to the communities where we operate”.
Stedman is the former CEO of Agilyx Corp., a leader in recycling technologies that unlock value from plastic waste to enable a circular economy, where he served from 2020 to 2024, Storegga said. Before his role at Agilyx, he held the position of senior vice president for strategy and corporate development at Trinseo, where he spearheaded the development of a mergers and acquisition strategy. Stedman also served as senior vice president of the Plastics and Feedstocks businesses for the global supply chain, and sat on the board of Americas Styrenics, a joint venture between Trinseo and CP Chem. Before his time at Trinseo, Tim accumulated over 20 years of experience at ExxonMobil, holding various leadership positions, Storegga said.
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