TORONTO— GFL Environmental Inc. says it has moved its executive headquarters from Ontario to the United States, while maintaining its legal incorporation in Canada.The waste management company announced it is now based in Miami Beach, Florida, though it remains incorporated in Ontario and will keep its Toronto Stock Exchange listing.Founder and chief executive Patrick Dovigi said the move is intended to expand the company’s eligibility for inclusion in U.S. equity indexes.“We expect this approach to gaining broader index inclusion will increase GFL’s visibility with investors and ultimately drive a wider shareholder base,” Dovigi said in a statement..GFL provides solid waste management services across Canada and in 18 U.S. states. The company said the United States accounts for more than two-thirds of its total revenue.RBC Capital Markets analyst Sabahat Khan said the change does not affect GFL’s Canadian incorporation or TSX listing, meaning the company remains eligible for inclusion in major Canadian indexes such as the TSX 60.Khan noted that Russell indexes operate on rules-based criteria, making GFL a likely candidate for inclusion at the next scheduled rebalancing in June.Ontario Premier Doug Ford said the move would not affect the company’s employment footprint in the province.Speaking to reporters at Queen’s Park on Wednesday, Ford said GFL will continue to employ thousands of workers in Ontario.“They’re a global company,” Ford said.
