UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 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):  January 8, 2008

 

Casella Waste Systems, Inc.

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

000-23211

 

03-0338873

(State or Other Juris-
diction of Incorporation

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

 

 

 

 

25 Greens Hill Lane
Rutland, Vermont

 


05701

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code:  (802) 775-0325

 

 

(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 (see General Instruction A.2. below):

 

¨      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨      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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

(b)           On January 8, 2008, James W. Bohlig resigned as President and Chief Operating Officer of the Registrant.  He will continue to serve the Registrant as Senior Vice President and Chief Development Officer and was appointed as President of the Registrant’s newly-formed Renewables Group.  He will also continue to serve as a member of the Board of Directors of the Registrant.  The Renewables Group is responsible for the company’s programs in recycling; the company’s waste-to-liquid fuels efforts; development activities surrounding the company’s landfill projects; managing the company’s investment in GreenFiber; and strategic planning and intellectual property development.

 

On January 8, 2008, Charles E. Leonard resigned as Senior Vice President, Solid Waste Operations of the Registrant.

 

(c)           On January 8, 2008, the Registrant appointed Paul Larkin as its President and Chief Operating Officer.  Mr. Larkin, age 43, is joining the company from Office Depot, Inc., where he spent ten years in a number of operating capacities, including most recently, from 2007 through 2008, as vice president for international strategy, from 2005 to 2007 as regional vice president of retail stores responsible for overseeing $1.0 billion of sales, and from 2000 to 2005 as vice president of supply chain and inventory management.  The Registrant and Mr. Larkin are finalizing his compensation arrangements and the Registrant undertakes to file an amendment to this Form 8-K at such time as such arrangements are completed.

 

(e)           In connection with the realignment of Mr. Bohlig’s responsibilities, Mr. Bohlig’s employment agreement dated as of December 8, 1999 was amended on January 8, 2008 to provide that (i) a new initial three year term would commence as of the date of the amendment; (ii) in the event that during this initial three year term his employment is terminated by him for certain enumerated events constituting “good reason”, he would be entitled to receive the higher of an amount equal to his base salary payable through the remainder of the initial term, or the sum of 18 months base salary, and any bonus earned and accrued for the period prior to such termination.  During any period of the agreement following the initial term, termination by Mr. Bohlig for such enumerated events will result in a payment of 18 months base salary.  The amendment also provides that during the agreement term, the company will continue to fund the existing whole life insurance policy held in Mr. Bohlig’s name.

 

Item 9.01.  Financial Statements and Exhibits

 

(d)           Exhibits

 

See Exhibit Index attached hereto.

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

Casella Waste Systems, Inc.

 

 

 

 

 

 

Date:  January 8, 2008

 

By:

/s/ John W. Casella

 

 

 

 

John W. Casella, Chief Executive Officer

 

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EXHIBIT INDEX

 

Exhibit No.

 

Description

 

 

 

99.1

 

Press release entitled CASELLA WASTE SYSTEMS NAMES JIM BOHLIG PRESIDENT OF COMPANY’S RENEWABLES GROUP; PAUL LARKIN JOINS COMPANY AS PRESIDENT AND CHIEF OPERATING OFFICER issued by the Registrant on January 8, 2008

 

4


 

Exhibit 99.1

 

 

CASELLA WASTE SYSTEMS NAMES JIM BOHLIG PRESIDENT OF COMPANY’S RENEWABLES GROUP;
PAUL LARKIN JOINS COMPANY AS PRESIDENT AND CHIEF OPERATING OFFICER

 

RUTLAND, VERMONT (January 8, 2008) — Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling, and resource management company, announced today that Jim Bohlig has been named the president of the company’s renewables group and Paul Larkin has joined the company as president and chief operating officer.

 

“We are building a great operating company focused on day-to-day performance and results,” John W. Casella, chairman and chief executive officer, said, “and Paul Larkin is a proven leader in operational excellence.”

 

“At the same time, we must recognize that our industry is evolving towards a model that rewards an approach to resource renewal and sustainability,” Casella said. “Jim Bohlig is without equal in our industry in his ability and passion for innovation in resource transformation.”

 

“Both Jim and Paul’s talents will allow us to create value from this shift by performing at the highest operational level, and developing business opportunities beyond the traditional consumption model that meet the emerging environmental sustainability needs of our customers today and tomorrow,” Casella said.

 

“In addition to his new position, Jim will also serve as chief development officer of Casella Waste Systems and will report directly to me,” Casella said. “Jim will be leading the development of new business opportunities, technologies, and relationships that will enhance our core operations by creating new revenue sources from the waste stream and implementing technology to reduce operating costs. He will be responsible for the company’s programs in recycling; the company’s waste-to-liquid fuels efforts; development activities surrounding the company’s landfill projects; managing the company’s investment in GreenFiber; and strategic planning and intellectual property development.”

 

Paul Larkin will be responsible for leading all integrated operating divisions and functions within Casella Waste Systems.

 

“Paul is the perfect fit for the culture of operational excellence which we are developing at Casella Waste Systems,” Casella said. “He brings to us an outstanding

 



 

record of accomplishment in strategic operational execution, customer service, and revenue growth.”

 

“Beyond those impressive skills, he is also a terrific leader,” Casella said. “He has shown over his career an exceptional ability to motivate people to perform at a very high level. I believe his leadership capabilities will complement our culture and bring out the best in the great people we have operating our businesses.”

 

Larkin will join Casella Waste Systems on January 9, 2008.

 

Larkin is joining the company from Office Depot, where he most recently served as vice president for international strategy. He built an outstanding track record over his 10 years with the company, serving in a number of operating capacities, including regional vice president responsible for overseeing $1.0 billion of sales, and vice president of supply chain and inventory management.

 

Larkin received his bachelor of arts degree from Clark University. Following graduation, he spent a decade as a United States Army staff officer, most recently leading logistics for the United States Atlantic Command.

 

Casella Waste Systems is an integrated solid waste and resource management company headquartered in Rutland, Vermont. In addition to providing traditional solid waste collection, transfer and disposal services, in the last year the company renewed the life-cycle of over 3.8 billion pounds of recyclable material (the equivalent of a line of fully loaded garbage trucks stretching from New York City to Omaha, Nebraska) and produced over 91,500 MWh of clean, renewable energy from landfill gas-to-energy facilities (enough energy to power a community of 33,000 people each year). It is the only solid waste services company participating in the U.S. Environmental Protection Agency’s Climate Leaders program to reduce greenhouse gases.

 

For further information, contact John Casella, chief executive officer, at (802) 775-0325, or visit the company’s website at http://www.casella.com.