Waste Management, Inc. : Waste Management Names James C. Fish Financial Chief; Preston Steps Down
07/05/2012| 01:28am US/Eastern
By Saabira Chaudhuri
Waste Management Inc. (WM) named James C. Fish Jr. chief financial officer to replace Steven C. Preston, who is stepping down to pursue chief executive opportunities.
The nation's largest garbage hauler and recycler said Mr. Fish joined Waste Management in 2001 and became senior vice president of the Eastern Group in 2011. He will also take on the role of executive vice president.
"Jim knows the company, he is a leader, and he has embraced our need to change and grow," said Chief Executive David Steiner. "The combination of Jim's valuable field and corporate experience, together with his financial expertise and focus on growth, ideally position him to manage our financial affairs as we pursue our strategies of knowing more about our customers and how best to service them; extracting more value from the materials we handle; and innovating and optimizing our business."
Mr. Preston began serving as Waste Management's financial head in October of last year. He is expected to remain with the company through the third quarter.
In April, Waste Management said its first-quarter profit was down 8.1% as lower commodity prices at its recycling operations and increased fuel costs overshadowed stronger revenue.
The company's stock closed at $33.45 on Tuesday and was inactive premarket. Shares are down 11% over the last 12 months.
Write to Saabira Chaudhuri at firstname.lastname@example.org