Former Air Products executive Stephen J. Jones has been hired to lead Covanta Holding Corp., a Morristown, N.J.-based waste-to-energy company.
Jones left Air Products in August during the company’s transition to the leadership of new CEO Seifi Ghasemi, who took the reins in July after activist investor William Ackman’s Pershing Square fund purchased a sizable chunk of company stock.
Jones was executive vice president and managing director under former Air Products CEO John McGlade.
“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, Chairman of the Board of Covanta, in a statement. “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. Having played a major role in key strategy and growth initiatives, Steve is the ideal candidate to serve as Covanta’s next CEO.”
Jones started with Air Products in 1992 as an attorney, was appointed senior vice president and general manager in April 2009 and China president in June 2011. He was based at the company’s office in Shanghai and was in charge of tonnage gases, equipment and energy, as well as operations in China.
He joined Covanta Monday and will take over in March for departing Covanta CEO Anthony J. Orlando, who has served as the company as CEO since 2004.
“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,” Jones said in a statement released by Covanta. “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.”
Orlando will remain a member of the board of directors. Jones will also have a spot on the board of directors in addition to his role as CEO.
Covanta operates 46 waste-to-energy facilities, mostly in the United States converting 20 million tons of waste a year into enough energy to power 1 million homes. It also has locations in Italy, China and Candad. The company operates five waste-to-energy facilities in Pennsylvania, located in York, Dauphin, Chester, Montgomery and Lancaster counties.
Twitter @skraus
610-820-6745
