TORONTO, April 24,
2023 /CNW/ -- Waste Connections, Inc. (TSX/NYSE: WCN)
("Waste Connections" or the "Company") today announced that
Ronald J. Mittelstaedt, the
Executive Chairman of the Company, has been appointed President and
Chief Executive Officer of the Company, effective April 23, 2023. Mr. Mittelstaedt succeeds
Worthing F. Jackman in this
role. Upon his departure, Mr. Jackman also stepped down as a
member of the Company's Board of Directors and withdrew as a
nominee for election as a director at the Company's 2023 Annual
Meeting of Shareholders.
Mr. Mittelstaedt is the Company's founder and served as the
Company's Chief Executive Officer from 1997 until July 2019, when he transitioned to the position
of Executive Chairman of the Board of Directors. In connection
with his reappointment as Chief Executive Officer, Mr. Mittelstaedt
remains on the Board of Directors, but will no longer serve as
Executive Chairman. Concurrent with this change, the
Company's lead independent director, Michael W. Harlan, became Chairman of the Board
of Directors in a non-executive capacity.
"We thank Worthing for his work and dedication on behalf of
Waste Connections for the last 19 years, including the last four as
CEO," said Mr. Mittelstaedt. "These last four years, with the
pandemic and hyperinflation, have been challenging for leadership
in all industries, and Worthing has done a yeoman's job in leading
us through this period. We are grateful for all that Worthing
has done for the company, its stakeholders and the communities that
we serve. His extensive efforts have helped shape the company
we are today, and we all wish him well in his future
endeavors."
Mr. Mittelstaedt continued, "I'm excited to return to this role
to serve our 23,000 employees and focus our efforts on servant
leadership, our decentralized operating structure and delivering
exceptional results in all areas."
In conjunction with this announcement, the Company is
reaffirming its 2023 full year financial outlook as originally
provided in February. Additional details will be provided
when the Company reports its Q1 2023 earnings on April 26th.
Webcast and Conference Call Details
Waste Connections will be hosting a conference call to discuss
the executive transition today, Monday April
24, 2023, at 8:30 A.M. Eastern
Time. A live audio webcast of the conference call can be
accessed by visiting investors.wasteconnections.com and selecting
"News & Events" from the website menu. Alternatively, listeners
may access the call by dialing 888-664-6392 (within North America) or 416-764-8659 (international)
approximately 10 minutes prior to the scheduled start time; a
passcode is not required. A replay of the conference call
will be available until May 1, 2023,
by calling 888-390-0541 (within North
America) or 416-764-8677 (international) and entering
Passcode #789188.
About Waste Connections
Waste Connections is an integrated solid waste services company
that provides non-hazardous waste collection, transfer and disposal
services, along with resource recovery primarily through recycling
and renewable fuels generation. The Company serves more than eight
million residential, commercial and industrial customers in mostly
exclusive and secondary markets across 43 states in the U.S. and
six provinces in Canada. Waste Connections also provides
non-hazardous oilfield waste treatment, recovery and disposal
services in several basins across the U.S., as well as intermodal
services for the movement of cargo and solid waste containers in
the Pacific Northwest. For more information, visit Waste
Connections at wasteconnections.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 can be identified by the use of
forward-looking terminology such as "believes," "expects,"
"intends," "may," "might," "will," "could," "should" or
"anticipates," or the negative thereof or comparable terminology,
or by discussions of strategy. 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, and
expected 2023 financial results, outlook and related assumptions.
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 SEC 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
|
Joe Box / (832)
442-2153
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maryannew@wasteconnections.com
|
joe.box@wasteconnections.com
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SOURCE Waste Connections, Inc.