By Jim Johnson, Crain News Service
DETROIT (Feb. 5, 2013) — Stock traders pushed shares of environmental services firm Clean Harbors Inc. lower this afternoon on news that the company's chief financial officer (CFO)is leaving the company.
Shares of the Norwell, Mass.-based company were trading at $52.35, down $2.97, or 5.37 percent, this afternoon after the company reported in a U.S. Securities Exchange Commission (SEC) filing that Robert E. Gagnon resigned his CFO position on Feb. 4.
James M. Rutledge, currently chief operating officer, will resume Mr. Gagnon's role as CFO, a position he held from 2005 until last August when Mr. Gagnon was hired.
"Mr. Gagnon did not resign due to any disagreement with the company regarding any matter related to the company's operations, policies, practices or financial statements," the company said in the SEC filing.
Mr. Rutledge will continue in his position as vice chairman and president of the company as well, Clean Harbors said.
Mr. Gagnon, the company said, will perform what it calls "transitional services" until March 31.
Clean Harbors is a provider of environmental, energy and industrial services and has more than 200 locations, including more than 50 waste management facilities.
Earlier this year Clean Harbors completed its purchase of used-oil-recycler Safety-Kleen Systems Inc. in a $1.25 billion deal.