David steiner waste management net worth

American lawyer and corporate executive (born 1960)

David Paul Steiner (born May 4, 1960 in Oakland, California) is an American lawyer and corporate executive. He served as a member of the board of directors of Vulcan Materials from 2017 to 2019. Steiner was Chief Executive Officer at Waste Management Inc., Director (from 2004-2010) and President (from 2010-2016). He is also a Director at TE Connectivity Ltd., Greater Houston Partnership, Tyco Electronics Corporation and FedEx Corporation, the latter of which he also holds the role of Lead Independent Director.

Career

Vulcan Materials Company elected David P. Steiner to its board of directors, effective immediately. Steiner will serve on Vulcan's safety, health and environmental affairs committee and the governance committee. Steiner stepped down as CEO of Waste Management in November 2016. Steiner also currently serves on the board of directors of FedEx Corp.

Prior to his current role at Waste Management Inc., Steiner was Chief Financial Officer, Executive Vice President, Senior Vice President, Deputy General Counsel, General Counsel and Corporate Secretary of the firm. He has been with the firm since 2000.

He has been a partner at Phelps Dunbar LLP, and an attorney at Gibson, Dunn & Crutcher.

Education

Steiner has a BS in Accounting from Louisiana State University where he was a member of the Phi Delta Theta fraternity and a JD from the University of California, Los Angeles.

Personal data

He is married to Judy and the couple has three children: Paul, Matthew, and Michael.

References

Louisiana Beta (LSU) Phi David Steiner is president and chief executive officer for Waste Management. Prior to being elected president and CEO in March 2004, Mr. Steiner was Waste Management’s chief financial officer. Mr. Steiner joined Waste Management in November 2000 as vice president and deputy general counsel and was appointed senior vice president, general counsel and corporate secretary in July 2001. In April 2003, he was elected CFO. He joined WM from Phelps Dunbar, a law firm in New Orleans, Louisiana. Prior to that, he was an associate at Gibson, Dunn & Crutcher in San Jose, California. Brother Steiner currently serves as a director of Tyco Electronics Corporation and FedEx Corporation.

Waste Management is the largest environmental solutions provider in North America, serving more than 20 million customers in the U.S. and Canada. As part of their strategy, Waste Management is committed to developing new waste solutions that can help communities and organizations achieve their green goals, including zero waste. Waste Management is also a renewable energy provider, producing more than twice the amount of renewable electricity than the entire US solar industry.

A D V E R T I S E M E N T

When David Steiner joined Waste Management as deputy general counsel in 2000, the company was still reeling from accounting and insider-trading scandals. Working with then-CEO Maury Myers to bring the garbage-hauling and disposal enterprise back on track, Steiner moved swiftly up the ranks to become its GC and then CFO, before succeeding Myers in 2004, just three-and-a-half years after coming into the $14.9 billion revenue company.

As CEO, Steiner restored flagging employee morale, delivered strong financial performance and repositioned the company as a leader in the growing recycling sector before stepping down in 2016. During a recent interview with Chief Executive, he shared lessons from his 12-year tenure. Excerpts, edited for length and clarity, follow.

How do you think about disruption as a leader in this state of the world? What aspects of it do you really feel are more difficult today than 10 or 15 years ago?

I think that the American businessman has to realize that the outside environment has changed. In my dad’s generation, if you ran GE, you made a little bit more money than all the other people who worked there, and you were revered as a business leader. Today, you make a lot more money than the people who work there, and you may not be revered as a business leader. The current environment in the U.S. is not necessarily business-friendly. You need to realize that. The Business Roundtable letter on the purposes of a corporation was actually very well done. It really makes a CEO sit back and think, “How can I make this corporation work for all of the constituencies?”

Coming out of World War II, you had a very hierarchical society. You had a hierarchical business setup. You gave an order, and people went and did it. Now that just doesn’t work. You have to figure out how to get all the people within the company to work for you. Then, how do you get that company to work for the other constituencies? It’