Waste Connections Reappoints Ronald Mittelstaedt As CEO; Reaffirms FY23 Guidance

Waste Connections, Inc WCN has named the Executive Chairman, Ronald J. Mittelstaedt, as its President and Chief Executive Officer, effective April 23, 2023. Mittelstaedt succeeds Worthing F. Jackman.
Jackman also stepped down as a member of the Board of Directors and withdrew as a nominee for election as a director.
Mittelstaedt is Waste Connections' founder and was the Chief Executive Officer from 1997 until July 2019.
Michael W. Harlan, the lead independent director of WCN, was appointed chairman of the board in a non-executive capacity.
Outlook: WCN reaffirmed the FY23 financial outlook provided in February, where it sees revenue of ~$8.050 billion vs. consensus of $8.09 billion, net income of ~$961 million, and Adjusted EBITDA of ~$2.5 billion.
The company expects FY23 net cash provided by operating activities of ~ $2.12 billion and an Adjusted free cash flow of $1.225 billion.
Price Action: WCN shares closed higher by 0.93% at $145.10 on Friday.