Mr. Bryden, who had been chairman and CEO of the Ottawa-based waste-to-energy firm since 2005, will stay on the company‚Äôs board as executive chairman.
Raymond Floyd has taken over as president and CEO of the company.
Mr. Floyd has been on Plasco‚Äôs board since April and was previously a senior vice-president at Suncor Energy. He has also held executive roles at General Motors and Exxon Mobil.
"Today, Plasco is well positioned to benefit from a rapidly growing worldwide market for waste-to-energy conversion," said Mr. Bryden in a press release.
"I am looking forward to turning my focus to being a member of its board of directors to help ensure Plasco achieves its growth targets and becomes a leading player in this growing sector.‚ÄĚ
The company has struggled to raise financing for an Ottawa waste-to-energy plant and has twice received deadline extensions from city council.
Plasco is hoping to use a deal signed with the City of Ottawa to make inroads into emerging markets such as China.