January 6, 2015
Waste-to-energy firm Covanta Holding Corp. has named Stephen Jones as its next president and CEO when current president and CEO Anthony Orlando steps down from the roles in March.
Jones joined the company from Air Products and Chemicals Inc., where he served as senior vice president and general manager, the Morristown, N.J.-based Covanta said in a news release.
Orlando, who has served as the company’s president and CEO since 2004, announced his intention to transition from the role. He will remain with the board of directors, which he has served since 2005. Jones will become a director as well in March. He will work with Orlando during a transition period.
Since 2009 Jones has worked for Air Products with the Tonnage Gases Segment and the Equipment and Energy Segment, which account for about 40 percent of Air Products’ revenue. His responsibilities included the development of the company’s energy business, including recent investments in the gasification of waste to produce renewable power in the United Kingdom.
“We are thrilled to welcome Steve to Covanta, and we are confident in his ability to lead the company as its new CEO,” said Samuel Zell, board chairman. “Steve has deep experience in operating and growing complex industrial businesses, and is committed to continuing our program of disciplined growth with a focus on maximizing shareholder returns.”
Jones said, “Covanta is the industry-leader in sustainable waste and renewable energy solutions, with an unmatched asset base and a track record of providing best-in-class service for its clients. While Tony has set a high bar for leadership at the company, this is an exciting time to join Covanta, and I am delighted to have the opportunity to lead this outstanding organization.”
Zell said Orlando has been instrumental in building Covanta. “I am confident that the company is well-positioned for future growth,” Orlando said, “and that Steve has the experience, dedication, and understanding of our industry to work with our leadership team to help realize Covanta’s full potential.”