SJW Group and Connecticut Water Service, Inc. Announces Executive Appointments for the Combined Company
March 15, 2018 at 07:00 am
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SJW Group and Connecticut Water Service, Inc. announced that both companies' boards of directors have unanimously approved a definitive agreement to combine through a merger of equals. Upon closing of the transaction, the board of directors of the combined company will consist of 12 directors, with seven directors appointed by SJW Group and five directors, including the lead independent director, appointed by Connecticut Water. Eric W. Thornburg will serve as Chairman, President and Chief Executive Officer of the newly-merged company.
David C. Benoit will serve as President, New England Region, overseeing the New England operations, including Connecticut Water. James Lynch will serve as Chief Financial Officer of the newly combined company, Kristen Johnson will serve as Chief Human Resource Officer, Suzy Papazian will serve as General Counsel and Corporate Secretary, Andrew Walters will serve as Chief Administrative Officer and Maureen Westbrook will serve as Senior Vice President of External Affairs.
SJW Group is a water and wastewater utilities company providing water service. The Company operates through four wholly owned subsidiaries, namely, San Jose Water Company (SJWC), SJWNE LLC, SJWTX Holdings, Inc., and SJW Land Company. SJWNE LLC is a special purpose entity holding company for Connecticut Water Service, Inc. (CTWS) (and its wholly owned subsidiaries, The Connecticut Water Company (CWC), The Maine Water Company (MWC), Chester Realty, Inc. and New England Water Utility Services, Inc. (NEWUS)). SJWTX Holdings, Inc. is the holding company for SJWTX, Inc., doing business as The Texas Water Company (TWC), Texas Water Operation Services, LLC (TWOS) and Texas Water Resources, LLC (TWR). The Company, through its wholly owned subsidiaries, primarily provides water utility and other related services in California, Connecticut, Maine and Texas. SJW Group has business in property management and real estate investment activity conducted by SJW Land Company and Chester Realty, Inc.