Aqua America Announces Appointment of Chris Franklin as Chairman of the Board
December 13 2017 - 5:46PM
Business Wire
Aqua America Inc. (NYSE: WTR) announced today that President and
CEO Christopher H. Franklin has been elected chairman of the board,
effective Jan. 1, 2018. Franklin became CEO in July 2015 and has
served on the board of directors since October 2015.
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Aqua America President and CEO Chris
Franklin (Photo: Business Wire)
He succeeds Nicholas DeBenedictis, former CEO, who will continue
to serve on the board as chairman emeritus.
“This appointment reflects the confidence the board of directors
has in Chris, and the respect he has earned through his two years
of leadership as president and CEO of Aqua,” said DeBenedictis.
“During Chris’ tenure, he has taken clear and decisive action to
further ensure the company’s future growth and success. He’s the
right person to lead the company, and this combined role will allow
him to broaden his leadership and continue to deliver for Aqua's
customers, employees and shareholders."
Franklin, a 25-year veteran of Aqua, became CEO when
DeBenedictis retired from the role after 23 years. Since then,
DeBenedictis served as the company’s chairman, a position he has
held since 1993.
“Nick has done a tremendous job leading the Aqua Board of
Directors for more than two decades,” said Franklin. “Under his
leadership, Aqua grew into one of the largest publicly traded water
and wastewater utilities in the United States. I am grateful for
the wisdom he has shared throughout his years of service. I look
forward to the opportunity to lead Aqua in this additional
capacity.”
As CEO, Franklin has focused on leading efforts to help solve
the nation’s water and wastewater infrastructure challenges across
Aqua’s eight-state footprint. In Chris’ two and a half years at the
helm, Aqua has welcomed 20,000 new customers and invested about $1
billion in critical infrastructure improvements.
The company’s new lead independent director expressed enthusiasm
in Franklin’s new dual role.
“Chris has a proven track record as a strong and effective
leader,” said Daniel J. Hilferty. “We are excited for him to take
on this dual role, leading an effective board of directors while
continuing to lead the company’s strategy and operations as
CEO.”
Hilferty, president and CEO of Independence Health Group, was
named lead independent director at the same Dec. 13 board of
directors meeting, and replaces Richard Glanton in that
capacity.
DeBenedictis added, “Richard Glanton was the company’s first
named lead independent director and the board is appreciative of
his long-standing service as lead director in that role.”
Aqua America is one of the largest U.S.-based, publicly traded
water utilities and serves nearly 3 million people in Pennsylvania,
Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and
Virginia. Aqua America is listed on the New York Stock Exchange
under the ticker symbol WTR. Visit AquaAmerica.com for more
information, or follow Aqua on Facebook at
facebook.com/MyAquaAmerica and on Twitter at @MyAquaAmerica.
WTRF
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Aqua America Inc.Stacey HajdakO: 610-520-6309M:
267-294-1866SMHajdak@AquaAmerica.com
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