Waste Management announced in June that its president and chief operation officer Larry O’Donnell was leaving the company to pursue CEO opportunities. Waste Management’s CEO David Steiner assumed the role of president immediately. The two will be working alongside each other until 30 June 2010 to ensure an orderly transition of duties. O’Donnell joined the company in 2000 and took on the role of president and chief operating officer in 2004.
‘I have worked with Larry at Waste Management for 10 years, and during that time he has demonstrated the capability and desire t become a CEO. That would be difficult to pursue while performing his duties as president, so we mutually agreed that Larry would transition his duties to me to allow him to devote his energies to the next stage of his career. I am certain he will be successful, and will miss him at the company as a colleague and a friend,’ said Steiner.
While we will miss Larry, his departure will not deter us from our business strategy. Knowing of Larry’s desire to pursue a CEO position, we have had in place the plans and personnel to handle the transition. We have exceptional managers leading our businesses, and they will continue to execute. I expect our operational excellence programs to drive more costs out of the business. We will hold firm on our pricing discipline to improve the company’s profitability. And we will remain focused on achieving top and bottom line growth through executing our strategies to grow our current markets, grow customer loyalty and grow into new markets.’