Waste Management Industry Veteran Brings Over
40 Years of Industry Experience to Casella Board
Casella Waste Systems, Inc. (Nasdaq:CWST) (“Casella” or the “Company”), a regional solid waste, recycling, and
resource management services company, today announced the
appointment of waste management industry veteran, James E.
O'Connor, to Casella’s Board of Directors (the “Board”) effective July 7, 2015.
Mr. O’Connor is the former Chairman of the Board and CEO of
Republic Services (NYSE:RSG), the second largest provider of
non-hazardous solid waste collection, recycling and disposal
services in the United States. He brings to the Casella Board over
40 years of experience in the waste management industry, including
extensive leadership experience, as well as experience serving on
the boards of directors of publicly-traded companies in a variety
of industries, including waste management, transportation and
energy. During his 13 years serving as CEO of Republic Services,
including serving the last eight years as both Chairman and CEO,
Mr. O’Connor led the transformation of Republic Services from a
company with $1.4 billion in annual revenues into one with more
than $8 billion in revenues, making it one of the largest waste
management companies in the world. Among Mr. O’Connor’s many
achievements at Republic Services was its $12.1 billion
transformative acquisition of Allied Waste in December 2008. Prior
to joining Republic Services, Mr. O’Connor spent close to 30 years
at Waste Management, Inc. where he held various senior management
positions.
“Jim is one of the most experienced, accomplished and admired
individuals in the waste management industry and has a proven
record of success in leading and growing waste management
businesses and creating shareholder value,” said John W. Casella,
Chairman and CEO of Casella. “He brings to the Casella Board
extensive senior management and governance experience at leading
waste management, transportation and energy companies and has a
strong track record of driving growth and shareholder value
creation. We are confident that Jim’s expertise and experience,
particularly his success in leading Republic Services through an
era of substantial but disciplined growth, will be extremely
valuable to Casella as we continue to execute on our ongoing
strategic initiatives to drive revenues and enhance
profitability.”
“I am excited to have the opportunity to serve on the Casella
Board,” said Mr. O'Connor. “Casella has a unique opportunity in the
industry to drive growth and create value for shareholders. The
success of management and the Board to focus the company’s
portfolio of assets and services has been a critical step in
positioning for the future. I look forward to contributing my
experience and insight to the Casella Board as it oversees the
Company’s continued execution of its strategic initiatives.”
Mr. O’Connor will replace current director John “Jeff” F.
Chapple III as a Class III director who, following years of
dedicated service to Casella, has chosen to retire from the Casella
Board. As a Class III director, Mr. O’Connor will stand for
election at Casella’s 2015 Annual Meeting of Stockholders. The
Casella Board has determined that Mr. O’Connor is an “independent
director” as defined under Rule 5605(a)(2) of the NASDAQ
Marketplace Rules.
Added Mr. Casella, “On behalf of the entire Board and management
team, I am extremely grateful to Jeff for his many years of
dedicated service to our Board and his countless valuable
contributions to Casella. Jeff has brought incredible wisdom,
experience and intellect to our business. He has been instrumental
in Casella’s success. His advice, insight and judgment, as well as
his sharp business acumen and ability to assess business
opportunities and address challenges, has helped guide Casella and
prepare it for the growth opportunities that lie ahead.”
Today’s announcement reflects the Casella Board’s continuing
commitment to recruit new independent and highly-qualified
directors that have perspectives, insights, experiences and
competencies that expand the depth and breadth of the Board. With
the appointment of Mr. O’Connor, the Casella Board would be
composed of nine highly-qualified and experienced directors, seven
of whom are independent, and boast a broad and diverse set of
skills and experiences in the areas of solid waste collection,
recycling, disposal services, operations, accounting, finance,
mergers and acquisitions, capital markets, capital allocation,
capital structure, risk management, IT infrastructure, and
strategic planning.
About James E. O'Connor
James E. O’Connor, 66, is the former Chairman of the Board and
CEO of Republic Services, Inc. (NYSE:RSG), the second largest
provider of non-hazardous solid waste collection, recycling and
disposal services in the United States. From 1998 to 2011, Mr.
O’Connor was CEO of Republic Services, Inc. and served as Chairman
of the Board from 2003 to 2011. During his 13 years serving as CEO
of Republic Services, including serving the last eight years as
both Chairman and CEO, Mr. O’Connor was an extraordinary and
visionary leader and led the transformation of Republic Services
from a company with $1.4 billion in annual revenues into one with
more than $8 billion in annual revenues, making it one of the
largest waste management companies in the world and attracting
marquee investors. Among Mr. O’Connor’s many achievements at
Republic Services was its $12.1 billion transformative acquisition
of Allied Waste in December 2008. Prior to joining Republic
Services, Mr. O’Connor spent close to 30 years at Waste Management,
Inc. where he held various senior management positions. Mr.
O’Connor entered the waste management industry over 40 years ago as
a young entrepreneur by acquiring a small waste management company
in Indiana, selling it and then going to work for Waste Management.
In 2001, Mr. O’Connor was the recipient of the Ellis Island Medal
of Honor from the National Ethnic Coalition of Organizations (NECO)
which rewards Americans who exemplify outstanding qualities in both
their personal and professional lives, while continuing to preserve
the richness of their particular heritage. He was named to the list
of America’s Best CEOs each year, between 2005 and 2010. In 2011,
Mr. O’Connor was named to the Institutional Investors’ All American
Executive Team. He is also active in many community causes,
especially those that benefit children, and has served on the board
of directors of the SOS Children’s Village. Mr. O'Connor is a
member of the Board of Directors of Clean Energy Fuels Corp.
(Nasdaq:CLNE), the leading provider of natural gas fuel for
transportation in North America, where he serves on the
Compensation Committee and the Nominating and Corporate Governance
Committee, and the Canadian National Railway Company (NYSE:CNI),
Canada’s largest railway with a rail network that serves Canada and
the Midwestern and Southern United States, where he Chairs the
Board’s Strategic Planning Committee and also serves on the Audit,
Environment, Safety & Security and Finance Committees. Mr.
O’Connor also serves on the board of directors of the South Florida
P.G.A. of America Foundation. Mr. O’Connor holds a Bachelor of
Science in Commerce (concentration in accounting) from DePaul
University.
About Casella Waste Systems, Inc.
Casella Waste Systems, Inc., headquartered in Rutland, Vermont,
provides solid waste management services consisting of collection,
transfer, disposal, and recycling services in the northeastern
United States. For further information, investors may contact Ned
Coletta, Chief Financial Officer at (802) 772-2239; media may
contact Joseph Fusco, Vice President at (802) 772-2247; and anyone
may visit the company's website at http://www.casella.com.
Important Additional Information And Where To Find It
Casella, its directors and certain of its executive officers are
deemed to be participants in the solicitation of proxies from the
Company’s stockholders in connection with the matters to be
considered at the Company’s 2015 Annual Meeting of Stockholders.
Information regarding the names of the Company’s directors and
executive officers and their respective interests in the Company by
security holdings or otherwise can be found in the Company’s Form
10-KT/A for the transition period from May 1, 2014 to
December 31, 2014, filed with the Securities and Exchange
Commission (“SEC”) on April 30,
2015. To the extent holdings of the Company’s securities have
changed since the amounts set forth in the Company’s Form 10-KT/A
for the transition period from May 1, 2014 to
December 31, 2014, such changes have been reflected on Initial
Statements of Beneficial Ownership on Form 3 or Statements of
Change in Ownership on Form 4 filed with the SEC. These documents
are available free of charge at the SEC’s website at www.sec.gov.
Casella intends to file a proxy statement and
accompanying WHITE proxy card with the SEC in
connection with the solicitation of proxies from Casella
stockholders in connection with the matters to be considered at the
Company’s 2015 Annual Meeting of Stockholders. Additional
information regarding the identity of participants, and their
direct or indirect interests, by security holdings or otherwise,
will be set forth in the Company’s proxy statement for its 2015
Annual Meeting, including the schedules and appendices
thereto. INVESTORS AND STOCKHOLDERS ARE STRONGLY ENCOURAGED
TO READ ANY SUCH PROXY STATEMENT AND THE ACCOMPANYING PROXY CARD
AND OTHER DOCUMENTS FILED BY CASELLA WITH THE SEC CAREFULLY AND IN
THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN
IMPORTANT INFORMATION. Stockholders will be able to obtain
the Proxy Statement, any amendments or supplements to the Proxy
Statement, the accompanying WHITE proxy card, and other documents
filed by Casella with the SEC for no charge at the SEC’s website at
www.sec.gov. Copies will also be available at no charge at the
Investor Relations section of the Company’s corporate website at
www.casella.com, by writing to the Company’s Corporate Secretary at
Casella Waste Systems, Inc., 25 Greens Hill Lane, Rutland, VT
05701, or by calling the Company’s Corporate Secretary at
(802) 772-2257.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150707006494/en/
Casella Waste Systems, Inc.Investors:Ned Coletta,
802-772-2239Chief Financial OfficerorMedia:Joseph Fusco,
802-772-2247Vice PresidentorSard Verbinnen & Co.Mark
Harnett/Zachary Tramonti212-687-8080
Casella Waste Systems (NASDAQ:CWST)
Historical Stock Chart
From Mar 2024 to Apr 2024
Casella Waste Systems (NASDAQ:CWST)
Historical Stock Chart
From Apr 2023 to Apr 2024