Waste Management’s new CEO, James C. Fish Jr., wants to kick up the technology of trash collection. The Houston-based company has already increased route efficiencies and boosted online services, but Fish wants to further explore augmented reality for technicians and innovation to replace landfills.
“If we don’t keep up with technology, there’s always a risk that somebody develops a disruptive technology that upsets our business model,” Fish said.
Fish was named CEO of Waste Management on Thursday night. During an interview with the Chronicle, he identified technology as one of his priorities. Also on the list are safety, the environment and customer service.
Fish succeeds former CEO David Steiner, whose succession plan has been in the works for 18 months, said Robert Reum, non-executive chairman of Waste Management.
“Jim is absolutely the right person to succeed David,” Reum said during a conference call Friday with investors. “He has very strong knowledge of and experience in all aspects of the business, is respected by employees, customers and shareholders, and has the right skills and leadership qualities to take the helm.”
Steiner had been CEO since 2004 and will remain on the board. His lengthy term at the helm meant analysts weren’t surprised by the new CEO announcement, they indicated during the conference call. But some did inquire into the timing.
Fish was promoted to president from chief financial officer in late July. As chief executive, he will continue to lead the finance organization, too, as the company seeks to complete its search for a CFO in the next few months.
“It’s not general corporate practice” to promote someone from president to CEO so quickly, said Al Kaschalk, senior vice president of equity research for broker/dealer Wedbush Securities. It didn’t provide much time for Fish to learn to become a CEO.
Yet Fish said the board must have determined the time sufficient.
“They wanted me to demonstrate an ability to run the entire organization before they put me in the CEO position,” he said.
As far as Fish’s abilities, Kaschalk said he will do a fine job based on his work as CFO. Barbara Noverini, an equity analyst for Morningstar, likewise complimented Fish for his financial savvy.
“Fish did a great job of refocusing the company’s efforts in support of its profitable core,” she wrote in an email. “We expect the company will continue to benefit from his operational expertise and financial discipline.”
Fish, 54, joined Waste Management in 2001 and has held other leadership positions with the company, including senior vice president for its eastern group, area vice president for Pennsylvania and West Virginia, and vice president of price management. He earned a bachelor of science in accounting from Arizona State University and an MBA in finance from the University of Chicago. He is also a certified public accountant.
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