8-KLeadership Changes

REPUBLIC SERVICES, INC. 8-K Report, Executive Changes (Apr 29, 2013)

Filed April 29, 2013For Securities:RSG

Summary

Republic Services, Inc. (RSG) filed an 8-K on April 29, 2013, to announce significant changes in its accounting leadership. Charles F. Serianni, formerly Senior Vice President and Chief Accounting Officer, is transitioning to a newly created role of Senior Vice President of Finance Projects, effective April 29, 2013. This move allows the company to leverage his experience on strategic initiatives. Concurrently, Brian A. Goebel has been appointed as the new Vice President, Chief Accounting Officer, also effective April 29, 2013. Mr. Goebel brings extensive experience from previous roles within the waste industry and other public companies, including his most recent position as Senior Director, External Reporting at RSG. His compensation package includes a $250,000 annual salary, eligibility for annual and long-term incentive plans, and continued participation in the stock incentive plan. This transition is a key event for investors monitoring the company's financial oversight and executive team stability.

Key Highlights

  • 1Charles F. Serianni resigns as Chief Accounting Officer to take on a new role as Senior Vice President of Finance Projects.
  • 2Brian A. Goebel appointed as the new Vice President, Chief Accounting Officer, effective April 29, 2013.
  • 3Mr. Goebel has a strong background in the waste industry, previously serving as Senior Director, External Reporting at RSG.
  • 4Mr. Goebel's new role comes with an annual base salary of $250,000.
  • 5He will be eligible for the company's annual bonus plan, with a target award of 60% of his base salary for 2013 (prorated).
  • 6Mr. Goebel will also participate in long-term incentive plans for 2011-2013, 2012-2014, and 2013-2015 performance cycles, with awards also prorated.
  • 7Mr. Goebel will continue to be eligible for the stock incentive plan and is subject to the company's Executive Separation Policy.

Frequently Asked Questions

Charles F. Serianni is not departing the company entirely. He is transitioning from his role as Chief Accounting Officer to a newly created position as Senior Vice President of Finance Projects, where he will focus on strategic initiatives.

Brian A. Goebel has been appointed as the new Vice President, Chief Accounting Officer. He joined Republic Services in 2009 and most recently served as Senior Director, External Reporting. He has prior experience in the waste industry, including significant roles at Waste Services, Inc.

Brian A. Goebel will receive an annual base salary of $250,000. He is also eligible for the annual bonus plan (target 60% of base salary for 2013, prorated), long-term incentive plans (awards prorated for multiple performance cycles), and continued participation in the stock incentive plan.

The filing indicates a smooth transition with Mr. Serianni moving to a strategic finance role and Mr. Goebel, who has been with the company since 2009 and in external reporting, taking over. His compensation and eligibility for incentive plans are clearly defined, suggesting a structured approach to maintaining financial oversight.