Attached files
file | filename |
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8-K - FORM 8-K - REPUBLIC SERVICES, INC. | p17879e8vk.htm |
EX-3.1 - EX-3.1 - REPUBLIC SERVICES, INC. | p17879exv3w1.htm |
EX-10.1 - EX-10.1 - REPUBLIC SERVICES, INC. | p17879exv10w1.htm |
EX-10.3 - EX-10.3 - REPUBLIC SERVICES, INC. | p17879exv10w3.htm |
EX-10.2 - EX-10.2 - REPUBLIC SERVICES, INC. | p17879exv10w2.htm |
EX-10.4 - EX-10.4 - REPUBLIC SERVICES, INC. | p17879exv10w4.htm |
Exhibit 99.1
NEWS
Republic Contacts:
Media Inquiries: Will Flower (480) 718-6565
Investor Inquiries: Ed Lang (480) 627-7128
Republic Services names Don Slager to Succeed
Jim OConnor as CEO; OConnor to Retire
in January 2011
Jim OConnor as CEO; OConnor to Retire
in January 2011
| Slager to become CEO on January 1, 2011 | ||
| OConnor to remain Chairman of the Board through May 2011 | ||
| Kevin Walbridge named Executive Vice President Operations |
PHOENIX, June 28, 2010 Republic Services, Inc. (NYSE:RSG) announced today that James E.
OConnor, 61, will retire from his position as chief executive officer of the company on January 1,
2011 after leading the company for 12 years. Mr. OConnor will continue to serve as a director,
and as the chairman of the board, until the next annual meeting of stockholders in May 2011.
The board of directors has unanimously elected Donald W. Slager, 48, current president and chief
operating officer of the company, to succeed Mr. OConnor as chief executive officer on January 1,
2011. Mr. Slagers title will be Chief Executive Officer and President. This appointment is the
result of a comprehensive succession planning process led by the companys board of directors. In
addition, Mr. Slager has been appointed to the Republic Services board of directors effective
immediately.
During my tenure at Republic Services, our company has evolved to meet the needs of our
customers, employees and investors, and I am extremely confident that we are on course to continue
our track record of success, said Jim OConnor. I am honored to have had the opportunity to lead
and serve alongside such a talented and dedicated group of individuals throughout my career. Given
our successes in achieving the financial and operational milestones of the merger of Republic
Services and Allied Waste and the clear path forward for the company, I believe the time is right
for me to retire. It is with pride and confidence that we prepare to
transition leadership of the company into the capable hands of Don Slager, who I believe is the
ideal person to lead the next chapter in Republics history.
Jims vision and leadership over the past 12 years have propelled Republics outstanding
performance and earned him the respect of the companys directors and management team, as well as
the entire industry, said W. Lee Nutter, Presiding Director of Republics Board. Jims
leadership during the merger with Allied Waste Industries was superior and resulted in the first
large-scale, successful merger in the waste industry. We are grateful for his service and pleased
he will continue to serve as chairman to ensure a smooth management transition. Don has a proven
track record as a leader, extensive experience in the industry and a deep sense of commitment to
our companys shareholders. The board of directors is confident that Don will serve our
shareholders, customers and employees well in his new role. We welcome Don to his new position and
to the board.
It has been a privilege to work with Jim OConnor as we have successfully realized the value of
the merger of Republic and Allied, said Don Slager. He has instilled within the company a
fundamental dedication to our shareholders, our customers, and our employees, as well as broad
respect for the integrity and values that make Republic a leader in the industry. I look forward
to working with our CFO Tod Holmes and the other members of our extremely talented management team
to continue executing on our current strategy to build on Republics strong momentum and deliver
value to our shareholders. We are committed to maintaining our stated strategy of improving return
on invested capital and free cash flow generation. Our incentive compensation plans will continue
to be based on these metrics. Republics long term plan is to improve cash return to
shareholders.
Mr. Slager has served as president and chief operating officer of the company since its merger with
Allied Waste Industries in 2008. Prior to that, Don served as the president and chief operating
officer of Allied Waste Industries. He has 30 years of experience in the waste and recycling
industry. This year marks Mr. Slagers 25th year with the company. He joined National
Waste Services in 1985, which was a foundational acquisition for Allied Waste in 1992. He served
as district manager at Allied and thereafter served as a regional vice president, assistant vice
president operations, vice president operations, senior vice president of operations, and
executive vice president and chief operating officer prior to his appointment as president of
Allied in 2005.
Republic also announced that Don Slager has selected Kevin Walbridge to serve as the new Executive
Vice President Operations. Previously, Kevin served as the Senior Vice President of Midwestern
Operations and has been in the solid waste and recycling business for more than 28 years. Mr.
Walbridge will assume his new role on October 1, 2010, and will relocate to Phoenix. This
appointment helps to ensure a smooth transition of operational responsibilities within the
organization.
About Republic Services, Inc.
Republic Services, Inc. provides recycling and solid waste collection, transfer and disposal
services in the United States and Puerto Rico. The Companys various operating units, including
collection companies, transfer stations, recycling centers and landfills, are focused on providing
reliable environmental services and solutions for commercial, industrial, municipal and residential
customers. For more information, visit the Republic Services web site at
www.republicservices.com.