One of Us: Steven Carn

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What are your duties and responsibilities as CFO of Advanced Disposal?

I have been CFO of Advanced for over 10 years and started in March of 2001, shortly after the company was formed as a start-up with a small hauling acquisition in Georgia. The company has grown from this start-up to over $1.4 billion of revenues, with 91 collection operations, 73 transfer stations and 40 landfills across 16 states. I am responsible for all accounting and financial reporting for the company, with a team of dedicated accounting and finance professionals. As part of the senior management team of the company, I am also involved in strategic planning and mergers and acquisitions.

 

Last year, Advanced Disposal went public, issuing an initial public offering of common stock. How did that transition impact you as CFO?

The transition to a public company took several years and came about as a result of the transforming acquisition of Veolia Solid Waste in late 2012 for $1.9 billion, which took the legacy Advanced from $380 million of revenue to $1.4 billion. To fund the acquisition, the company issued 144A Senior Notes, which is essentially public debt that requires filing SEC 10 Q’s and K’s so we have been public debt filers since Q3 2013. In October 2016, the company executed another milestone when it issued in the IPO approximately $380 million public equity, with the proceeds used to pay down debt. As CFO, my team plays a big role in the preparation of the SEC documents and operating as a public company. The biggest difference for me as a public company CFO requires spending more of my time with equity investors and preparing for our quarterly earnings calls.  

 

What is the biggest challenge of overseeing financial operations for a company with the size and scope of Advanced Disposal?

The biggest challenge over the years is finding and retaining a talented team of financial professionals. As the company grew from a start-up to a public company listed on the New York Stock Exchange, it required me and our existing employees to quickly adapt to new challenges and to learn new skills. I currently have the most talented and dedicated team working with me in my career.

 

What brought you to the First Coast?

My wife Kay and I grew up in Fremont, Ohio, and after graduating high school I attended Ohio State and Kay attended Bauder College in Atlanta. Several years after we graduated from college, we met and Kay convinced me that we had to move to a warmer climate. We started by visiting my grandparents in Brunswick, Georgia in April 1995, and on our return flight out of Jacksonville we were delayed. We bought the Times-Union newspaper to pass the time and discovered that Jacksonville sounded pretty neat. In the summer, we vacationed in Jacksonville and during that vacation we decided to move to Jacksonville after our wedding in September 1995, with no jobs or family here. We love this area and have been blessed with our three children, who were born here, and with great careers.

 

 

 

 

Are there any civic or charitable organizations with which you’re involved?

I am a member of the Ponte Vedra Beach Rotary Club, served several years on the American Heart Association Executive Leadership Team for the annual Heart Ball, and served as treasurer of the PVAA Soccer Association.

 

How do you enjoy spending your free time?

I enjoy spending time traveling, boating and fishing with my wife, our twin daughters – they are rising juniors at Auburn – and our son, a rising freshman at St. Joseph Academy.

 

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