Allied Waste (NYSE:AW)
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Republic Services, Inc. (NYSE: RSG) and Allied Waste Industries, Inc.
(NYSE: AW) today announced the remainder of the senior executive team
who will lead the company following the completion of the merger of the
two companies. These experienced individuals will join James O’Connor,
Chairman and Chief Executive Officer, Don Slager, President and Chief
Operating Officer, Tod Holmes, Executive Vice President and Chief
Financial Officer, and Tim Donovan, Executive Vice President, General
Counsel and Corporate Secretary, whose positions were previously
announced.
“The combined Republic Services will have the deepest leadership group
in the industry,” said Mr. O’Connor. “These leaders, drawn from the
extensive experience of both the Republic and Allied executive teams,
will play critical roles in our success in merging the complementary
assets of two great companies, integrating best practices from both
organizations and fulfilling our mission to be the industry leader of
solid waste and environmental services.”
The following executives will report directly to Mr. O’Connor:
Brian Bales -- Executive Vice President, Business Development
Will Flower -- Executive Vice President, Communications
Jeff Hughes – Executive Vice President, Human Resources
Gary Sova -- Executive Vice President, Sales & Marketing
The company’s field operations will be divided into four regions. Each
regional leader will have the title of Senior Vice President –
Operations and will report directly to Mr. Slager.
Jeff Andrews -- Senior Vice President, Western Operations (with
offices located in Pleasanton, CA)
Ron Krall -- Senior Vice President, Eastern Operations (with offices
located in Chantilly, VA)
Chris Synek -- Senior Vice President, Southern Operations (with
offices located in Houston, TX)
Kevin Walbridge -- Senior Vice President, Midwestern Operations (with
offices located in Indianapolis, IN)
The companies also announced today that Mike Cordesman and Ed Evans will
not be continuing with the company following the completion of the
merger. Mr. Cordesman served as President and Chief Operating Officer of
Republic Services and Mr. Evans served as Executive Vice President and
Chief Personnel Officer of Allied Waste. Both executives have played
important roles in the historic success of Republic and Allied
respectively, and both were deeply involved in the integration planning
process.
“Mike and Ed have made tremendous contributions to each company and to
this merger,” said Mr. Slager. “Their dedication to the highest levels
of customer service and employee development have helped position
Republic and Allied for future success. On behalf of our Board and all
of our 35,000 employees, we want to thank them for their service and
wish them the very best.”
Upon completion of the merger, the combined company, which will be
called Republic Services, will be the nation’s leading environmental
services provider, with expected pro forma revenues of $9 billion.
Following the completion of the merger, Allied will be a wholly owned
subsidiary of Republic with Allied stockholders receiving approximately
51.7% of the outstanding common stock of the combined company in respect
of their Allied shares and Republic stockholders retaining approximately
48.3% of the outstanding common stock of the combined company, in each
case, on a diluted basis. The companies are highly confident that they
will meet the projected $150 million of merger synergies in the third
year following completion of the transaction.
About Republic Services, Inc.
Republic Services, Inc. is a leading provider of environmental services
including solid waste collection, transfer and disposal services in the
United States. The company’s operating units are focused on providing
solid waste services for commercial, industrial, municipal and
residential customers.
About Allied Waste Industries, Inc.
Allied Waste is America's second largest non-hazardous solid waste
services company and an environmental leader. Headquartered in Phoenix,
AZ, Allied Waste provides waste collection, transfer, recycling and
disposal services to millions of residential, commercial and industrial
customers in over 100 major markets spanning 38 states and Puerto Rico.
Allied's team of more than 22,000 dedicated employees operates within a
highly efficient, integrated organization that generated 2007 revenue of
$6.1 billion.
Information Regarding Forward-Looking Statements
Certain statements and information included herein constitute
“forward-looking statements” within the meaning of the Federal Private
Securities Litigation Reform Act of 1995. These
forward-looking statements are identified by words such as “will,”
“expects,” “intends,” and similar words. Any such forward-looking
statements contained herein are based on current expectations, but are
subject to a number of risks, uncertainties, and other factors that may
cause actual results to differ materially from expectations expressed in
such forward-looking statements, many of which are beyond the control of
Republic and Allied. Such risks, uncertainties and other factors
include: regulatory and litigation matters and risks, legislative
developments, changes in tax and other laws, the effect of changes in
general economic conditions, the risk that a condition to funding under
Republic's the new credit facility may not be satisfied, the risk that a
regulatory approval that may be required for the merger is not obtained
or is obtained subject to conditions that are not anticipated and other
risks to consummation of the merger and the risk that the merger, if
completed, may not create long-term value for stockholders as expected.
Stockholders, potential investors and other readers are urged to
consider these factors carefully in evaluating our forward-looking
statements and are cautioned not to place undue reliance on
forward-looking statements. Risk factors are discussed in the definitive
Joint Proxy Statement/Prospectus filed with the SEC. The forward-looking
statements made herein are only made as of the date of this press
release and the parties hereto undertake no obligation to publicly
update these forward-looking statements to reflect subsequent events or
circumstances.