| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
Republic Services, Inc. (the “Company”) has named Jon Vander Ark as the Company’s President and has named Timothy E. Stuart as the Company’s Executive Vice President, Chief Operating Officer, each effective on May 1, 2019. Donald W. Slager will remain the Chief Executive Officer of the Company.
Mr. Vander Ark, 43, has served as the Company’s Executive Vice President, Chief Operating Officer since January 1, 2018. Mr. Vander Ark previously served as the Company’s Executive Vice President, Operations from March 2016 to January 2018. In that role, Mr. Vander Ark was responsible for overseeing the Company’s operations in the eastern half of the United States, which represented approximately $5 billion of the Company’s annualized revenues. Mr. Vander Ark previously oversaw the Company’s operations in the western half of the United States. Mr. Vander Ark joined the Company in January 2013 as Executive Vice President, Chief Marketing Officer. Prior to joining the Company, he served as a partner at McKinsey & Company’s Detroit office, managing clients across a variety of industries, including transportation, logistics, manufacturing and consumer products.
Mr. Stuart, 51, has over 25 years of experience in the waste services industry including 13 years with the Company serving in a number of positions of increasing responsibility. Most recently, Mr. Stuart has served as the Company’s Executive Vice President, Operations since January 2016. In this role, Mr. Stuart is responsible for overseeing the Company’s operations in the western half of the United States and he previously oversaw the Company’s operations in the eastern half of the United States. Prior to this role, Mr. Stuart served as the Company’s East Region President from September 2013 to January 2016. Prior to that position, Mr. Stuart held various leadership positions with the Company including Director of Operations, Vice President, Customer Experience, Area President and Region Vice President.
In connection with his appointment, the Management Development and Compensation Committee (the “Committee”) approved an increase in Mr. Vander Ark’s annual base salary to $775,000, with an annual cash bonus opportunity of 95% of his base salary.
In connection with his appointment, the Committee approved an increase in Mr. Stuart’s annual base salary to $625,000, with an annual cash bonus opportunity of 85% of his base salary.
A copy of the press release dated April 30, 2019 announcing these appointments is attached as Exhibit 99.1 to this report and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits |
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