Republic Services, a major player in the environmental services sector, has expanded its board of directors with the appointment of Ian Craig, an experienced executive currently leading Coca-Cola FEMSA, Latin America’s largest bottling company. Alongside this governance update, Republic also declared its regular quarterly dividend, maintaining its commitment to returning capital to shareholders.
Key details on the board appointment and compensation
- Ian Craig, 53, joined Republic Services’ board effective February 10, 2026, increasing the board size to 13 members, with 12 classified as independent directors.
- Craig brings significant leadership experience from Coca-Cola FEMSA, where he has been CEO since 2023, overseeing operations across 10 countries with $16 billion in annual revenue and a $23 billion market cap.
- His tenure at Coca-Cola FEMSA is marked by a focus on digital transformation and sustainability, including renewable energy adoption and plastic bottle recycling initiatives.
- At Republic, Craig will serve on the Audit Committee and the Sustainability & Corporate Responsibility Committee, aligning with his expertise in operational and environmental matters.
- Compensation for Craig as a non-employee director includes:
- An annual grant of restricted stock units (RSUs) valued at $230,000, prorated for 2026 based on his appointment date.
- An annual cash retainer of $100,000, also prorated for 2026.
- Additional RSUs equal in value to dividends paid on Republic’s common stock, granted quarterly and vesting immediately.
- The RSUs granted to Craig will be settled in shares upon his departure from the board or after three years, unless deferred into the company’s Deferred Compensation Plan.
- There are no special arrangements or conflicts of interest related to Craig’s appointment.
Dividend declaration
- On February 10, 2026, Republic’s board declared a quarterly cash dividend of $0.625 per share.
- The dividend record date is April 2, 2026, with payment scheduled for April 15, 2026.
- This dividend continues Republic’s steady pattern of shareholder distributions.
Implications for investors
- The addition of Ian Craig strengthens Republic’s board with a director who has deep operational and sustainability expertise, particularly relevant as environmental services companies face increasing regulatory and market pressures on sustainability.
- Craig’s roles on the Audit and Sustainability committees suggest a focus on governance oversight in financial integrity and environmental responsibility.
- The dividend declaration confirms Republic’s ongoing commitment to returning cash to shareholders, supporting income-oriented investment theses.
- The prorated nature of Craig’s compensation reflects standard practice for mid-year board appointments, with no unusual financial impact expected.
Overall, Republic Services is reinforcing its governance with a director experienced in sustainability and operational leadership while maintaining steady shareholder returns through its dividend policy.