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American Water Announces George MacKenzie will Retire from Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
American Water Works Company (NYSE: AWK) announced the retirement of George MacKenzie from its Board of Directors after 20 years of service, effective May 10, 2023. MacKenzie, who has been a board member since 2003 and served as Board Chair from 2006 to 2018, significantly contributed to the company's successful IPO in 2008. President and CEO Susan Hardwick expressed gratitude for his leadership and insights. MacKenzie previously held senior roles at Hercules Incorporated and P.H. Glatfelter Company, enhancing American Water's governance and strategic direction during his tenure.
Positive
George MacKenzie announced his retirement after 20 years, providing an opportunity for fresh leadership.
MacKenzie played an integral role in the successful IPO of American Water in 2008.
Negative
Concerns over continuity in leadership following MacKenzie's departure.
Experience gaps may arise with MacKenzie's retirement.
CAMDEN, N.J.--(BUSINESS WIRE)--
American Water Works Company, Inc. (NYSE: AWK), the largest publicly-traded U.S. water and wastewater utility company, announced that after 20 years of dedicated service, George MacKenzie will retire from the American Water Board of Directors when his current term ends on May 10, 2023.
"On behalf of the Board of Directors, I want to thank George for his years of service and valuable contributions to the success of American Water,” said Karl Kurz, Board Chair of American Water. “I am personally grateful to him for his counsel and the meaningful insights he shared, having served in the Board Chair role from 2006 to 2018. We wish George and his family all the best as he embarks on the well-deserved retirement from the board.”
MacKenzie has been a valued member of the American Water Board of Directors since August 2003. In addition to serving as the Chair, MacKenzie also served as interim president and CEO of American Water in 2006.
Commenting on MacKenzie’s retirement, American Water President and CEO Susan Hardwick said, “On behalf of all American Water employees, I too thank George for the leadership he provided this company. He played an integral role in American Water’s IPO preparation and execution in 2008 and has been part of many of our successes since that time.”
In addition to his service on the American Water Board of Directors, MacKenzie previously served as Vice Chairman of the Board and Chief Financial Officer of Hercules Incorporated. During his 22-year career with Hercules, he served in a variety of senior management roles, including as president of the Chemical Specialty Division and Chief Financial Officer. He also served as the Executive Vice President and Chief Financial Officer of P.H. Glatfelter Company from September 2001 to June 2002.
More information about the American Water Board of Directors is available at www.amwater.com.
About American Water
With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The Company employs approximately 6,500 dedicated professionals who provide regulated and regulated-like drinking water and wastewater services to an estimated 14 million people in 24 states. American Water provides safe, clean, affordable, and reliable water services to our customers to help keep their lives flowing. For more information, visit amwater.com and diversityataw.com. Follow American Water on Twitter, Facebook and LinkedIn.
