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Analyst Actions: Credit Suisse Looks at Republic Services and Asks: "No COO Needed?"

No COO Needed?

Does a Major Waste Company Need a COO?: "Ever since Larry O'Donnell (former COO) left Waste Management, it appears that large publicly traded waste companies do not believe they need a dedicated Chief Operating Officer. On this subject, Republic Services recently announced that it will be terminating Kevin Walbridge as COO and that Don Slager ( CEO ) will be assuming that role. Recall that Slager was previously COO before assuming the CEO title post Jim O'Connor's departure in January 2011. Walbridge was previously SVP of Midwestern Operations. He has been in the solid waste and recycling business for over 29 years and joined RSG in 1997."

Is the COO Departure Material? "Although we believe a COO role at a pure play waste management firm like RSG may be overrated (unlike WM), Walbridge was appointed by former CEO Jim O'Connor, who has since retired. There is no change in long term strategy at RSG, but clearly under Slager's new leadership, there will likely be a new stamp on operations going forward."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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