On August 18, 2023, Republic Services, Inc. (“Republic” or “the Company”) announced that the employment of Timothy E. Stuart, Executive Vice President and Chief Operating Officer, was terminated on August 17, 2023. The circumstances giving rise to Mr. Stuart’s departure do not relate to operations, strategy or any accounting matters, financial statements, financial reporting or related disclosure controls and procedures.
On August 18, 2023, the Company also announced the appointment of Gregg Brummer as Executive Vice President and Chief Operating Officer, effective August 18, 2023, succeeding Mr. Stuart. Brummer, 57, has worked for Republic since 2014 and most recently served as senior vice president of operations. Previously, Mr. Brummer served as Zone President for the South and Northwest Regions from January 2016 to June 2019.
Prior to that, he served as Region Vice President for the former East Region from February 2015 to January 2016 and Region President for the Gulf Coast from January 2014 to January 2015. Prior to joining Republic, Mr. Brummer was Regional Vice President and General Manager of BlueLinx Corporation. In connection with his appointment to his new position, the Talent and Compensation Committee (the “Committee”) of the Board of Directors approved an increase in Mr. Brummer’s base salary to $630,000, with a possible annual cash bonus of 85% of his base salary, the amounts of which will be pro-rated for 2023 for his time in his new position.
In addition, the committee also approved the grant to Mr. Brummer of $300,000 of restricted stock units, which will vest over a four-year period.
