Covanta will have new CEO starting in March

Morristown-based energy-from-waste company Covanta Holding Corporation announced Monday that its CEO and president is stepping down in March, with a former Air Products and Chemicals Inc. executive taking over.Anthony J. Orlando, who has been in charge of Covanta since 2004, will “transition from his role as CEO” in March, the company said in a news release. In his place, Stephen J. Jones, a senior vice president and general manager with Air Products, will take over as CEO and president.

“We are thrilled to welcome Steve to Covanta, and we are confident in his ability to lead the company as its new CEO,” Samuel Zell, chairman of the board, said in a prepared 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, who formally joined the company Monday, will also become a member of the board of directors. Orlando, who will work with Jones during a transition period, will remain on the board after the CEO change.

“On behalf of Covanta and its directors, I would like to thank Tony for all he has done for the company,” Zell said. “Tony has been instrumental in building Covanta, providing outstanding service to our customers and driving value for shareholders. We are very pleased that he will continue to provide his strategic insights and leadership as CEO through March, and after that as a board member, to ensure a smooth transition.”

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