Dive Brief:
- Waste Connections announced Monday that, effective July 1, CFO Worthing Jackman will succeed Steve Bouck as President, while SVP of Finance Mary Anne Whitney will succeed Jackman as CFO.
- The shift in leadership comes as Bouck transitions into retirement. "I will miss my day-to-day partner of 20+ years but am thrilled for him as he begins his next chapter. I can never thank him enough for all he's done and meant to the Company," CEO Ron Mittelstaedt said in a statement.
- Mittelstaedt assured stakeholders the company will remain "well positioned for continuing success" through the transition.
Dive Insight:
Bouck has been an integral part of Waste Connections' growth since its IPO in 1998, and was particularly involved when the company merged with Progressive Waste in 2016. While Bouck's retirement is a loss for Waste Connections, Bouck is expected to remain involved in the company by providing "ongoing strategic advice and focus" on various growth initiatives.
The promotion of Whitney to CFO is a significant win for the company — and for the overall legacy of women in the waste industry. Seeing female leadership in the C-suite level is becoming a more common occurrence in the industry as years pass — just last year Devina Rankin was elected as Waste Management CFO, which she attributed to "working hard to lead by example and be a positive influence in a collaborative organization."
Earlier this month, Waste Connections reported an "above average" quarter of acquisitions, with Mittelstaedt noting that the M&A pipeline is "as strong as I've seen it in 18-plus years, probably going back to the late 1990s, in terms of opportunities." Jackman and Whitney are now better positioned to influence and assist in the company's M&A strategy, allowing each executive to prove themselves as invaluable leaders.
