Waste to Energy Firm Covanta Names Former Air Products VP as President CEO

A new president and CEO is set to take the helm at New Jersey based waste to energy firm, Covanta Holding Corporation (NYSE: CVA), with a leadership succession planned from March this year. The company said that the move is consistent with the its growth strategy and focus on value creation. Anthony J. Orlando (pictured left), who has served as Covanta’s president and CEO since 2004 and as a director since 2005, will be replaced in March by Stephen J. Jones (pictured right), will take up both roles as well as a place the Board of Directors. Jones most recently served as senior vice president and general manager at Air Products and Chemicals Inc. will become Covanta’s president and chief executive officer Since 2009 Jones was senior vice president of the Tonnage Gases Segment and the Equipment and Energy Segment at Air Products. In this role, he held profit and loss responsibility for these two global business segments, which accounted for about 40% of Air Products’ revenues. As part of his leadership of the Equipment and Energy Segment, he was responsible for the development of its energy business, including the recent significant investments by Air Products in the area of plasma gasification of waste to produce renewable energy in the UK. (See WMW Story) Transition The waste to energy firm explained that Orlando will remain on the Company’s Board of Directors, and that Jones has already joined its team and will work closely with Orlando for a transition period. “Steve has deep experience in operating and growing complex industrial businesses, and is committed to continuing our program of disciplined growth with a focus on maximizing shareholder returns. Having played a major role in key strategy and growth initiatives, Steve is the ideal candidate to serve as Covanta’s next CEO,” commented Samuel Zell, chairman of the Board. “On behalf of Covanta and its Directors, I would like to sincerely thank Tony for all he has done for the Company,” Zell continued. “Tony has been instrumental in building Covanta, providing outstanding service to our customers, and driving value for shareholders.” Orlando himself added: “I have had a great experience during my 25 years at Covanta, including the past 10 in the role of CEO, and I am proud of the value that we have created for all our stakeholders.” “I would especially like to thank Covanta’s dedicated and talented team, with whom I have greatly enjoyed working and who have been key to our success,” he continued. “I am confident that the Company is well-positioned for future growth, and that Steve has the experience, dedication, and understanding of our industry to work with our leadership team to help realize Covanta’s full potential.” Soon to be CEO, Jones, commented: “Covanta is the industry-leader in sustainable waste and renewable energy solutions, with an unmatched asset base and a track record of providing best-in-class service for its clients.” “While Tony has set a high bar for leadership at the Company, this is an exciting time to join Covanta and I am delighted to have the opportunity to lead this outstanding organisation.” Read More Covanta to Offer 300 TPD Commercial Gasification System Covanta Energy has completed commercial testing of a 350 ton per day, 'first-of-its-kind', modular municipal solid waste gasification technology. Covanta Takes the Reigns at 75 MW Pinellas Waste to Energy Plant New Jersey based waste to energy firm, Covanta, has assumed operations of the Pinellas County Resource Recovery Facility located in St. Petersburg, Florida. 58 MW Poolbeg Waste to Energy Plant to Go-Ahead in Dublin Waste to energy firm Covanta is to commence construction of the controversial 600000 tonne per year Poolbeg waste to energy facility in Dublin, Ireland.