The waste management company GFL Environmental has announced that it is moving its executive headquarters from the Greater Toronto Area to the United States.
Patrick Dovigi, the company’s founder and CEO, explained that the shift from Vaughan to Miami Beach, Fla., aims to expand GFL’s shareholder base while still being incorporated in Canada.
“Consistent with our desire to access a wider global investor base across both passive and active strategies, the relocation of our executive headquarters broadens our eligibility for participation in U. S. equity indices while preserving our eligibility for inclusion in Canadian equity indices,” Dovigi said in a statement.
“We expect this approach to gaining broader index inclusion will increase GFL’s visibility with investors and ultimately drive a wider shareholder base.”
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Company serves every Canadian province and 18 states
GFL ranks as the fourth largest waste management firm in North America, holding contracts throughout all Canadian provinces and 18 states. The organization employs over 15,000 individuals. The firm manages numerous contracts in the GTA, including garbage collection services for Toronto’s west side. Dovigi is a former OHL goalie who was drafted by the Edmonton Oilers back in 1997 but only played two games professionally in the ECHL during the late 1990s. He started the company in summer 2007 as Green For Life because he wanted a quieter life without constant travel. Even with this move, Dovigi confirmed that GFL will keep its hubs in both Vaughan and Raleigh, N. C. “The United States has grown to represent over two-thirds of our revenue, more than half of which is generated in the fast-growing Southeastern region,” he said. “The relocation aligns with our expanding presence in this attractive market and is expected to improve our ability to attract highly skilled talent from the U. S. labour pool.”RECOMMENDED VIDEO
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