On Tuesday, Republic Services (NYSE:RSG) announced that it will replace current Chief Financial Officer Tod C. Holmes, who is retiring next year, with new Executive Vice President and CFO Glenn A. Culpepper, effective Jan. 9.

Culpepper joins Republic from privately held Summit Materials, "a leading business in the aggregates and building materials sector," where he has served as CFO for the past two years. Previously, he worked as an accountant at PriceWaterhouse and spent 13 years as CFO of the North American division of construction materials company CRH PLC.

Republic shares are up 1.3% on the news at $29.66.

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