WM CFO Devina Rankin to retire after 23 years with company

HOUSTON - WM (NYSE:WM), North America’s leading environmental solutions provider with a market capitalization of $92.5 billion, announced Thursday that Executive Vice President and Chief Financial Officer Devina Rankin plans to retire after nearly 23 years with the company. According to InvestingPro data, WM maintains a strong financial health rating, positioning the company well for this leadership transition.

Rankin will transition out of the CFO role in November 2025 and remain as an executive advisor through March 2026. During her tenure, the company has maintained dividend payments for 28 consecutive years, with a recent dividend yield of 1.43%. According to the company’s press release, she has decided to focus on her interests in education and not-for-profit service.

David Reed, currently vice president and business partner for WM’s West Tier operations, will succeed Rankin as executive vice president and CFO. Reed has been with the company for eight years and previously served as vice president and treasurer.

"Devina has been an invaluable contributor to WM’s successes over the years," said Jim Fish, chief executive officer. "As a passionate, driven, and people-centric leader, she has played an incredibly important role on WM’s senior leadership team since becoming CFO in 2017."

Rankin has served as CFO since 2017, working alongside Fish during his tenure as CEO.

Reed brings experience in investment banking, investor relations, corporate finance, treasury, and operations enablement to his new role.

WM, formerly known as Waste Management, provides collection, recycling, and disposal services to residential, commercial, industrial, medical, and municipal customers throughout the U.S. and Canada. The company generated revenues of $23.95 billion in the last twelve months, with a healthy gross profit margin of 39.7%. For deeper insights into WM’s financial performance and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers over 10 additional key insights and detailed valuation metrics.

In other recent news, Waste Management reported its second-quarter 2025 earnings, surpassing Wall Street expectations with an earnings per share of $1.92, slightly above the forecast of $1.90. The company’s revenue reached $6.43 billion, exceeding the anticipated $6.37 billion. These results were driven by strong special waste volumes, tuck-in acquisitions, positive pricing trends, sustainability initiatives, and cost efficiencies. Following these earnings, Scotiabank raised its price target on Waste Management to $275.00 from $265.00, maintaining a Sector Outperform rating. The price target increase reflects the company’s better-than-expected performance despite challenges from commodity prices. These developments highlight investor confidence in Waste Management’s strategic direction and operational efficiency.

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