Stericycle Inc.’s Mark Miller, long-time chairman and CEO, is stepping down, to be replaced by Charles Alutto.
The Lake Forest, Ill.-based Stericycle’s board of directors elected Alutto, current president, to replace Miller Jan. 1, 2013. Miller will serve as executive chairman beginning in 2013, the medical waste company said in a news release.
"Mark has provided outstanding leadership to Stericycle since he joined the company as CEO in 1992," said Jack Schuler, lead director of Stericycle's board. "Charlie has a proven track record at Stericycle, over 23 years of experience in healthcare services and the trust and confidence of the executive team as well as the board of directors.”
Alutto has served as Stericycle president since January 2010 and joined the company in 1997. He also has served as vice president and managing director of Stericycle's European business, vice president of the company’s hospital business and area vice president of operations.
Stericycle recently reported its latest financial results. For the year net income climbed 12.9 percent to $234.8 million, or $2.69 per diluted share, compared with $207.9 million, or $2.39 per diluted share, in 2010. Revenue for 2011 jumped 16.4 percent to $1.68 billion, compared with $1.44 billion a year ago.