Progressive Waste Solutions Ltd. (NYSE: BIN) announced that Dan Pio, Executive Vice President and Chief Integration Officer, has been appointed Chief Executive Officer, effective Friday, January 29, 2016. Joseph Quarin is stepping down from the role of President and Chief Executive Officer and from the Company’s Board of Directors to pursue other opportunities. The CEO succession follows Progressive Waste Solutions’ announcement that Mr. Quarin planned to step down during the integration period of the Company’s proposed combination with Waste Connections Inc. (Waste Connections) (NYSE: WCN).
Mr. Pio, who has been leading the Company’s integration efforts for the combination with Waste Connections, will now also assume primary responsibility for Progressive Waste Solutions’ operations throughout the merger process. The transaction is expected to close in the second quarter of 2016.
“Dan is doing an excellent job leading the integration from the Progressive Waste Solutions side, and the Board believes he is the right person to assume the responsibilities of the CEO role and take the merger across the finish line,” said James J. Forese, Non-Executive Chairman of the Board of Directors. “On behalf of the entire Board, I want to thank Joe for his contributions to Progressive Waste Solutions over the past 16 years. His leadership and dedication have played an important role in getting the Company to this significant milestone, and we wish him all the best in his future endeavours.”
Mr. Quarin said, “It has been an honour and a privilege to lead Progressive Waste Solutions for the past four years as CEO, and I am extremely proud of what we have accomplished together. I am confident that the Company will be in good hands with Dan and the integration team seeing the merger through to completion.”
“I look forward to leading Progressive Waste Solutions through this pivotal time in the Company’s history, and carrying on our work providing best-in-class service to our customers,” said Mr. Pio. “I am excited about the value we will create with Waste Connections. The combination will secure a strong future for Progressive Waste Solutions and its stakeholders and provide a tremendous platform of opportunity for our employees.”