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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): June 1, 2010
Waste Management, Inc.
(Exact Name of Registrant as Specified in Charter)
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| Delaware
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1-12154
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73-1309529 |
| (State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.) |
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| 1001 Fannin, Suite 4000 Houston, Texas
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77002 |
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(Zip Code) |
Registrant’s Telephone number, including area code: (713) 512-6200
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of
Principal Officers; Compensatory Arrangements of Certain Officers.
On June 2, 2010, Waste Management, Inc. issued a press release announcing that its
President and Chief Operating Officer Lawrence O’Donnell, III will be leaving the Company to pursue
chief executive officer opportunities. The Company’s CEO David Steiner has assumed the role of
President effective immediately. Mr. O’Donnell will remain employed by the Company through June
30, 2010 to assure an orderly transition of his former duties to Mr. Steiner.
In connection with the foregoing, the Company entered into an employment termination agreement
with Mr. O’Donnell (the “Separation Agreement”) setting forth the terms of his separation from the
Company. Under the Separation Agreement, Mr. O’Donnell’s departure from the Company will be
treated as a termination without cause by the Company, entitling him to the payments, compensation
and benefits set forth in Section 6(e) of his employment agreement dated January 21, 2000 with the
Company, as amended.
The Separation Agreement is being filed as Exhibit 10.1 to this Form 8-K and is incorporated
herein by reference in its entirety. A copy of the press release announcing this executive officer
change is filed as Exhibit 99.1 to this report.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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| Exhibit |
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10.1
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Agreement for Termination of Employment dated June 1, 2010 between Waste Management, Inc. and Lawrence O’Donnell, III |
99.1
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Press release dated June 2, 2010 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused
this report to be signed on its behalf by the undersigned, hereunto duly authorized.
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WASTE MANAGEMENT, INC.
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| Date: June 2, 2010 |
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/s/ Rick L Wittenbraker
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Rick L Wittenbraker |
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Senior Vice President |
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INDEX TO EXHIBITS
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| Exhibit No. |
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Description |
10.1 |
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Agreement for Termination of Employment dated June 1, 2010, between Waste Management, Inc. and Lawrence O’Donnell III |
99.1 |
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Press release dated June 2, 2010 |