Tara Hemmer named COO at WM (NYSE: WM) as Rafael Carrasco plans July 2026 retirement
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Waste Management, Inc. announced leadership changes and related compensation actions. Senior Vice President of Enterprise Strategy and President of WM Healthcare Solutions, Rafael E. Carrasco, has decided to retire effective July 17, 2026 after a decade in operational leadership roles, including leading the Stericycle acquisition and building the healthcare solutions business.
The Board promoted Tara J. Hemmer, previously Senior Vice President and Chief Sustainability Officer, to Executive Vice President and Chief Operating Officer, reporting to President John J. Morris Jr., who voluntarily resigned the COO title. Hemmer will oversee the operating platform while continuing to lead Sustainability businesses such as Recycling, Renewable Energy and Advisory Services.
In connection with her promotion, Hemmer’s annual base salary was set at $850,000, with a target annual cash incentive equal to 105% of year-end base salary. She also received a restricted stock unit award valued at $575,000 under the 2023 Stock Incentive Plan, vesting 34% after one year and 33% annually over the following two years, with standard provisions for death, disability, retirement, termination without cause and change in control.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Hemmer base salary: $850,000 per year
Target cash incentive: 105% of base salary
RSU award value: $575,000
+5 more
8 metrics
Hemmer base salary
$850,000 per year
Annual base salary following promotion to EVP and COO
Target cash incentive
105% of base salary
Hemmer’s target annual cash incentive as EVP and COO
RSU award value
$575,000
Grant date May 20, 2026 under 2023 Stock Incentive Plan
RSU vesting schedule
34% / 33% / 33%
Vests over first, second and third anniversaries of grant
Carrasco retirement date
July 17, 2026
Effective retirement date for Senior Vice President Carrasco
Hemmer tenure
27 years
Length of Hemmer’s service with WM before COO appointment
New RNG sites
14 sites
RNG facilities added under Hemmer’s sustainability leadership
Recycling facilities added
37 facilities
Recycling sites with advanced technology added under Hemmer
Key Terms
restricted stock units, Dividend Equivalents, Involuntary Termination without Cause, Change in Control, +1 more
5 terms
restricted stock units financial
"approved an award of restricted stock units (“RSUs”) under the Company’s 2023 Stock Incentive Plan"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Dividend Equivalents financial
"Dividend Equivalents | | Dividends will accrue and be paid in cash upon any payout of RSUs"
Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.
Involuntary Termination without Cause financial
"Involuntary Termination without Cause | | RSUs equal to the total number of unvested RSUs"
Change in Control financial
"Involuntary Termination without Cause following a Change in Control | | All unvested RSUs will vest"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
beneficial use of landfill gas technical
"is a leader in beneficial use of landfill gas, with a growing network of renewable natural gas plants"
FAQ
What leadership changes did WM (WM) announce in this Form 8-K?
WM announced that Rafael E. Carrasco will retire on July 17, 2026, and promoted Tara J. Hemmer to Executive Vice President and Chief Operating Officer. Hemmer will oversee WM’s operating platform while continuing to lead key Sustainability businesses, including Recycling and Renewable Energy.
When is WM executive Rafael Carrasco retiring from WM (WM)?
Rafael E. Carrasco will retire from WM effective July 17, 2026. He has served as Senior Vice President of Enterprise Strategy and President of WM Healthcare Solutions, leading the Stericycle acquisition and integration of WM’s healthcare solutions business over his 10-year tenure.
What is Tara Hemmer’s new role and responsibilities at WM (WM)?
Tara J. Hemmer was appointed Executive Vice President and Chief Operating Officer at WM. She will lead the company’s operating platform and continue overseeing Sustainability businesses such as Recycling, Renewable Energy and Advisory Services, building on her long leadership history in operations and sustainability at WM.
How is WM (WM) compensating Tara Hemmer following her promotion?
Following her promotion, Tara Hemmer’s annual base salary is $850,000, with a target annual cash incentive of 105% of year-end base salary. She also received a restricted stock unit award valued at $575,000 under the 2023 Stock Incentive Plan, subject to three-year graded vesting terms.
What are the key vesting terms of Tara Hemmer’s RSU award at WM (WM)?
Hemmer’s RSU award vests 34% on the first anniversary of grant, then 33% on each of the second and third anniversaries. Each RSU converts into one share of WM common stock at vesting, with dividend equivalents accrued and paid in cash when RSUs are paid out.
How are terminations and change in control treated under WM (WM) RSUs for Tara Hemmer?
If Hemmer dies or becomes disabled, all unvested RSUs vest and are paid after that event. For qualifying retirement after January 1, 2027, or involuntary termination without cause, vesting follows normal dates, with prorating in some cases, and all RSUs vest after a qualifying change in control plus such a termination.