Summary
This 8-K filing announces a significant leadership change at Waste Management, Inc. (WM), with Ms. Devina A. Rankin resigning as Executive Vice President and Chief Financial Officer, effective November 1, 2025. Ms. Rankin will transition to an executive advisor role to ensure a smooth handover. The company has appointed Mr. David L. Reed, currently Vice President and Business Partner for West Tier operations, to succeed Ms. Rankin as CFO. Mr. Reed's appointment is effective from the same date, and he brings extensive financial experience within WM, having previously served as Vice President and Treasurer.
Key Highlights
- 1Ms. Devina A. Rankin is resigning as Executive Vice President and Chief Financial Officer, effective November 1, 2025.
- 2Ms. Rankin will remain with the company as an executive advisor through March 2026 to facilitate a smooth transition.
- 3Mr. David L. Reed has been appointed as the new Executive Vice President and Chief Financial Officer, effective November 1, 2025.
- 4Mr. Reed has a strong internal track record at WM, including roles as Vice President and Treasurer.
- 5Mr. Reed's compensation will be adjusted with a base salary of $700,000 and a target annual cash incentive of 100% of base salary.
- 6Mr. Reed will receive a restricted stock unit (RSU) award valued at $565,000, vesting over three years.
- 7The RSU award includes provisions for vesting upon death, disability, or involuntary termination without cause following a change in control.