Thomas L. Bené
WASTE MANAGEMENTAbout Thomas L. Bené
Independent director at WM since March 2024; age 62. He is President & CEO of Breakthru Beverage Group (private), and formerly CEO of the National Restaurant Association (2020–2021) and Sysco Corporation (2018–January 2020; also a Sysco director 2018–2020). He holds a B.S. in Business Administration from the University of Kansas and brings four decades of leadership across logistics, merchandising, sales, and supply chain from PepsiCo and Sysco .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Breakthru Beverage Group, LLC (private) | President & CEO | Oct 2021–Present | Leading growth and innovation; technology-enabled differentiation focus |
| National Restaurant Association | President & CEO | Jun 2020–Sep 2021 | Industry leadership and policy engagement |
| Sysco Corporation | President, CEO; Director | 2018–Jan 2020 (CEO); 2018–Jan 2020 (Director) | Modernization, logistics, merchandising, revenue mgmt; Chairman role noted; executive advisory Feb–Mar 2020 |
| PepsiCo | Various leadership roles | >20 years | Operations, sales, marketing, revenue mgmt, distribution; supply chain expertise |
External Roles
| Organization | Role | Public/Private | Tenure | Committees/Impact |
|---|---|---|---|---|
| Sysco Corporation | Director | Public | 2018–Jan 2020 | Governance experience at large-cap distributor |
| Breakthru Beverage Group | CEO | Private | Oct 2021–Present | Strategic growth, technology-led capabilities |
No current public company directorships for Bené are disclosed beyond the prior Sysco directorship .
Board Governance
- Committee assignments: Member, Management Development & Compensation (MD&C) Committee; not a chair .
- Independence: Board determined Bené is independent under NYSE standards .
- Attendance: In 2024, each incumbent director attended at least 75% of Board and committee meetings on which they served; all directors attended the 2024 Annual Meeting .
- Board/committee activity: Board held 7 regular and 6 special meetings (2024); Audit (8 meetings), MD&C (6), Nominating & Governance (5) .
- Leadership: Non-Executive Chair (Kathleen M. Mazzarella) presides over executive sessions and serves on all committees .
Fixed Compensation
| Component | Bené 2024 Amount ($) | Program Terms |
|---|---|---|
| Annual cash retainer | 105,180 | Standard non-employee director cash retainer $120,000, paid in two installments (Jan/Jul); prorated for March 1, 2024 start |
| Committee chair fees | — | Audit Chair $25,000; MD&C Chair $20,000; N&G Chair $20,000; Non-Exec Chair $100,000 |
| Meeting fees | — | None (no meeting fees) |
Performance Compensation
| Component | Bené 2024 Amount ($) | Structure |
|---|---|---|
| Stock awards (fully vested common stock) | 157,672 | Non-employee directors receive fully vested shares, two grants per year (typically Jan 15 and Jul 15); approx $90,000 each installment; shares must be held net of taxes during tenure |
No performance metrics (e.g., TSR, EBITDA) apply to non-employee director compensation; equity grants are time-based and fully vested at grant, with mandatory hold requirements .
Other Directorships & Interlocks
- Current public company boards: None disclosed for Bené .
- Prior public boards: Sysco Corporation (Director, 2018–Jan 2020) .
- Compensation committee interlocks: WM discloses no interlocks; during 2024, no WM executive officer served on the board or compensation committee of an entity with executive officers serving on WM’s Board/MD&C Committee .
Expertise & Qualifications
- Executive leadership and strategic planning: CEO at Breakthru; prior CEO roles at Sysco and NRA .
- Operational excellence and logistics: Deep experience in distribution, supply chain, shared services, revenue management .
- Human capital development: Leadership and management development focus aligning with WM’s People First strategy .
- Digital differentiation and customer service: Technology-enabled business model modernization .
- Education: B.S., University of Kansas .
Equity Ownership
| Item | Detail |
|---|---|
| Total beneficial ownership | 1,430 shares; held via the Thomas L. Bené and Susannah Harkins Bené Revocable Trust (trustees: Mr. and Mrs. Bené) |
| Options (exercisable/unexercisable) | None disclosed (no options) |
| Ownership as % of shares outstanding | ~0.0004% (1,430 / 402,332,424 shares outstanding as of Mar 18, 2025) |
| Pledging/Hedging | Hedging prohibited for directors under Insider Trading Policy; pledging not specifically disclosed |
| Stock ownership guidelines | Minimum equal to 5x annual cash retainer ($600,000 as of Dec 31, 2024); all non-employee directors met guideline except newest directors Bené and Chinn, who are making appropriate progress |
Governance Assessment
- Board effectiveness: Bené strengthens MD&C oversight with a practitioner’s lens on incentive design aligned to operating discipline and talent development; independence and committee service support robust governance .
- Alignment and incentives: Mandatory share holding and 5x retainer ownership guideline promote long-term alignment; as a new director, he has not yet met the guideline but is progressing, which is typical for first-year appointees .
- Attendance and engagement: Meets WM’s attendance expectations and participated in the 2024 Annual Meeting, supporting active engagement .
- Conflicts and related-party exposure: No related-party transactions or independence-impairing relationships disclosed for Bené; Board’s annual independence review flagged certain commercial dealings tied to other directors, none involving Bené .
- RED FLAGS: None disclosed specific to Bené. Watch items include near-term ownership guideline shortfall due to new appointment (standard onboarding dynamic) and continued monitoring for any Breakthru-related transactions, though none are disclosed .