Dive Brief:
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Stericycle, a U.S.-based medical waste disposal company, announced its Chief Information Officer David Stahl would be stepping down, and CFO Janet Zelenka will assume his duties, the company announced in a regulatory 8-K filing Friday.
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"The organizational change reflects [Stericycle's] streamlining," the company said in the filing. This streamlining follows the execution of its portfolio rationalization initiative, deferral of ERP system deployment to 2021 given COVID-19 restrictions, its need for cash, and its continued focus on cost management.
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The compliance company, based in Bannockburn, Illinois, anticipates combining the CFO and CIO roles will "further support effective IT-related internal controls implementation, operation of the ERP system as designed and enhanced efficiency of financial systems," the release said.
Dive Insight:
The CIO and CFO roles do not often intersect. But throughout her career, Zelenka has served as both CFO and CIO at different companies, and, once, as both concurrently.
The release did not confirm whether Zelenka's CFO-CIO duties will be permanent or on an interim basis. But, per her LinkedIn page, between 2017 and 2019, Zelenka served as both CFO and CIO of Essendant, a Fortune 500 value-added distributor based out of Deerfield, Illinois.
Cindy Miller, who took over as Stericycle CEO in May following over 30 years at UPS, has precipitated the change, replacing more than half of Stericycle's senior executives so far in her tenure, tapping former UPS executives for the top roles, including chief people officer and chief commercial officer.
In the last year, under Miller's control, Stericycle has spent $148 million on costs related to laying off 1.5% of its workforce of 22,500, and implementing business process management software, according to Crain’s Chicago Business.
Stahl, whose last day with Stericycle is June 27, has been with the company since 2016, before which he served as CIO for Duracell and Hillshire Brands. Stericycle's 8K filing did not disclose a reason for Stahl’s departure.
In recognition of Zelenka’s additional duties, Stericycle’s board agreed to increase her base salary from $575,000 per year to $625,000. The financial terms of Stahl’s departure have not yet been finally determined, the company wrote.
Representatives for Stericycle and for Zelenka declined to comment, citing quiet period.
