Summary
Waste Management, Inc. (WM) announced significant executive changes via an 8-K filing on May 13, 2026. The company is acknowledging the retirement of Mr. Rafael E. Carrasco, Senior Vice President, Enterprise Strategy and President, WM Healthcare Solutions, who will step down on July 17, 2026, after 10 years of service, notably contributing to the Stericycle acquisition and healthcare solutions business development. Concurrently, Ms. Tara J. Hemmer has been promoted to Executive Vice President and Chief Operating Officer, reporting to President John J. Morris, Jr., who has resigned from his COO role. Ms. Hemmer, previously Senior Vice President and Chief Sustainability Officer, will see her annual base salary increase to $850,000 and a target annual cash incentive of 105% of her year-end base salary. Her compensation package also includes a $575,000 award of restricted stock units (RSUs) with a staggered three-year vesting schedule and dividend equivalents, reflecting the company's investment in leadership continuity and strategic growth.
Key Highlights
- 1Retirement of Rafael E. Carrasco, SVP, Enterprise Strategy and President, WM Healthcare Solutions, effective July 17, 2026.
- 2Tara J. Hemmer promoted to Executive Vice President and Chief Operating Officer.
- 3John J. Morris, Jr. has resigned from his position as Chief Operating Officer.
- 4Ms. Hemmer's new annual base salary is set at $850,000.
- 5Ms. Hemmer's target annual cash incentive is 105% of her year-end base salary.
- 6Ms. Hemmer awarded $575,000 in Restricted Stock Units (RSUs) with a three-year vesting schedule.
- 7RSU awards include dividend equivalents and specific vesting acceleration clauses for death, disability, and involuntary termination without cause.