TORONTO, July 26, 2019 /CNW/ -- Waste Connections, Inc.
(TSX/NYSE: WCN) ("Waste Connections" or the "Company") announced
the appointment of Worthing F.
Jackman, the Company's President, to President and Chief
Executive Officer. He has also joined Waste Connections'
Board of Directors. The Company also announced that
Ronald J. Mittelstaedt has returned
from his temporary leave of absence and assumed the role of
Executive Chairman of the Board of Directors. As Executive
Chairman and as a continuing employee, Mr. Mittelstaedt will assist
in several areas, including culture, strategy and mergers and
acquisitions.
"After almost 22 years, it's time for me to step away from
day-to-day operations to provide sufficient time to address health
matters affecting my family," said Mr. Mittelstaedt. "I am
grateful to all of our stakeholders—customers, shareholders,
lenders, vendor partners and most of all, our employee family—for
the trust they have placed in Waste Connections. I remain
committed to the Company and look forward to continuing to serve in
my capacity as Executive Chairman. It has been a tremendous
honor and privilege to lead Waste Connections, and I look forward
to continued success for the Company under Worthing, a trusted and
respected leader in whom I have complete confidence."
In September 1997, Mr.
Mittelstaedt founded Waste Connections and took the Company public
in May 1998 at approximately
$30 million in revenue. Since
that time, Waste Connections has grown to over $5.3 billion in revenue, with an equity market
capitalization of approximately $25
billion, delivering sector-leading total shareholder returns
of approximately 4,000%. Under Mr. Mittelstaedt's stewardship
as Chief Executive Officer and Chairman, Waste Connections has
become the third largest solid waste company in North America, expanding operations to 42
states in the U.S. and six provinces in Canada, with more than 18,000 employees
serving more than seven million customers.
"Few individuals have had as profound an impact on a company or
created as much shareholder value as Ron and his team," said
Michael Harlan, Waste Connections'
lead independent director. "Ron has a track record of success
that is unparalleled in the industry and has set the standard for
excellence as a servant leader with a focus on culture and
people. We are confident that he will continue to be
impactful in his new role, while also having greater flexibility to
devote time to his family. We are grateful for all that Ron
has done for the Company, its stakeholders and the communities we
serve, and we are extremely pleased that he will continue to serve
as Executive Chairman."
Mr. Jackman has been an integral part of Waste Connections since
its inception, originally as its investment banker. He joined
the Company in 2003 and has been a member of the senior executive
team since 2004, when he assumed the role of Chief Financial
Officer. Mr. Jackman was promoted to President in
July 2018 and has served as the
Company's Principal Executive Officer since February 2019. "In the more than 20 years
he has been affiliated with Waste Connections, Worthing has proven
to be an outstanding business executive and leader, with a
commitment to furthering the Company's strategic vision and a
relentless focus on growth, culture, execution, accountability and
value creation. He has been instrumental in our success and
is a respected member of the leadership team, both across the
Company and within the industry and the broader investment
community," said Mr. Mittelstaedt. "Our Board has great confidence
in Worthing, and we believe that he is the right person to lead the
Company."
"We have tremendous opportunities looking ahead," said Mr.
Jackman. "It is a privilege to lead a long-established team
that is well-positioned to drive further shareholder value creation
through the solid foundation built under Ron's leadership.
And as a servant leader, I am especially humbled, and have an
unending commitment, to serve the more than 18,000 dedicated
employees whose tireless efforts are integral to the Company's
continuing success."
Q2 2019 Conference Call
Waste Connections will be hosting a conference call related to
second quarter earnings on July
30th at 8:30 A.M. Eastern
Time. To access the call, listeners should dial
800-768-9711 (within North
America) or 212-231-2912 (international) approximately 10
minutes prior to the scheduled start time and ask the operator for
the Waste Connections conference call (a passcode is not
required). A replay of the conference call will be available
until August 6, 2019 by calling
800-633-8284 (within North
America) or 402-977-9140 (international) and entering
Passcode #21925963. The call will be broadcast live over the
Internet through a link on the Company's website at
www.wasteconnections.com. A playback of the call will be
available on the Company's website.
About Waste Connections
Waste Connections is an integrated solid waste services company
that provides non-hazardous waste collection, transfer, disposal
and recycling services in mostly exclusive and secondary markets in
the United States and
Canada. Through its R360 Environmental Solutions subsidiary,
Waste Connections is also a leading provider of non-hazardous
oilfield waste treatment, recovery and disposal services in several
of the most active natural resource producing areas in the United States, including the Permian,
Bakken and Eagle Ford Basins. Waste Connections serves more
than seven million residential, commercial, industrial, and
exploration and production customers in 42 states in the U.S., and
six provinces in Canada. The Company also provides intermodal
services for the movement of cargo and solid waste containers in
the Pacific Northwest.
For more information, visit the Waste Connections web site at
www.wasteconnections.com. Copies of financial literature,
including this release, are available on the Waste Connections
website or through contacting us directly at (905) 532-7510.
Investors can also obtain these materials and other documents filed
with the U.S. Securities and Exchange Commission (SEC) and the
Canadian securities regulators free of charge at the SEC's website,
www.sec.gov, and at the System for Electronic Document Analysis and
Retrieval (SEDAR) maintained by the Canadian Securities
Administrators at www.sedar.com.
Safe Harbor and Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995 ("PSLRA"), including
"forward-looking information" within the meaning of applicable
Canadian securities laws. These forward-looking statements are
neither historical facts nor assurances of future performance and
reflect Waste Connections' current beliefs and expectations
regarding future events and operating performance. These
forward-looking statements are often identified by the words "may,"
"might," "believes," "thinks," "expects," "intends" or other words
of similar meaning. All of the forward-looking statements included
in this press release are made pursuant to the safe harbor
provisions of the PSLRA and applicable Canadian securities laws.
Forward-looking statements involve risks and uncertainties.
Forward-looking statements in this press release include, but are
not limited to, statements about the expectations and successful
management of the executive transitions. Important factors
that could cause actual results to differ materially from those in
the forward-looking statements include, but are not limited to,
risk factors detailed from time to time in the Company's filings
with the U.S. Securities and Exchange Commission and the securities
commissions or similar regulatory authorities in Canada. You should not place undue reliance on
forward-looking statements, which speak only as of the date of this
press release. Waste Connections undertakes no obligation to
update the forward-looking statements set forth in this press
release, whether as a result of new information, future events, or
otherwise, unless required by applicable securities laws.
CONTACT:
Mary Anne Whitney / (832)
442-2253
maryannew@wasteconnections.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/waste-connections-names-worthing-jackman-as-president-and-ceo-ron-mittelstaedt-transitions-to-executive-chairman-300891455.html
SOURCE Waste Connections, Inc.