California Water Service Group Announces Appointment of James P. Lynch to Senior Vice President, Chief Financial Officer, and Treasurer

Rhea-AI Summary

California Water Service Group (CWT) has appointed James P. Lynch as Senior Vice President, Chief Financial Officer, and Treasurer, effective January 3, 2024. Mr. Lynch brings over 22 years of experience in the water utility industry, including 12 years at SJW Group and 14 years as an Audit Partner at KPMG, LLP. His appointment was the result of an extensive nation-wide search, and he is expected to ensure a smooth transition in the company's fiscal year 2023 financial reporting.

SAN JOSE, Calif., Jan. 04, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE : CWT) today announced that after conducting an extensive, nation-wide search, it has selected James P. Lynch to join the company as Senior Vice President, Chief Financial Officer and Treasurer, effective January 3, 2024. He succeeds interim Vice President, Chief Financial Officer, and Treasurer David B. Healey. Mr. Healey will serve as Principal Financial Officer on an interim basis, ensuring a smooth transition and supporting the company in its fiscal year 2023 financial reporting.

Mr. Lynch is an accomplished senior executive and seasoned finance leader with more than 22 years of experience in the water utility industry, including 12 years at SJW Group where he served as Chief Accounting Officer and, prior to that, Chief Financial Officer, and Treasurer. Before joining SJW Group, Mr. Lynch spent 14 years as an Audit Partner at KPMG, LLP, where he served as a lead audit partner on a portfolio of international and domestic publicly traded and privately held companies, including five years as independent audit partner for SJW Group and California Water Service Group.

“California Water Service Group retained a national search firm where Jim quickly rose to the top of the list,” said Chairman and Chief Executive Officer Martin A. Kropelnicki. “Jim’s financial expertise, along with his extensive experience with regulated water utilities, makes him the perfect fit for this role. I’ve known Jim for many years, and I’ve long been impressed by his professionalism and integrity. I’m very pleased to have him join our leadership team.”

A Santa Clara University alumnus, Mr. Lynch served as a member of the Santa Clara University Accounting Advisory Board and currently serves on the board of directors of Children’s Health Council. He is also a Certified Public Accountant.

About California Water Service Group

California Water Service Group is the parent company of regulated utilities California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, as well as Texas Water Service, a utility holding company. Together, these companies provide regulated and non-regulated water and wastewater service to more than 2.1 million people in California, Hawaii, New Mexico, Washington, and Texas. California Water Service Group’s common stock trades on the New York Stock Exchange under the symbol “CWT.” Additional information is available online at www.calwatergroup.com.

Contact

Shannon Dean
(408) 367-8243 (media)

 

FAQ

Who has California Water Service Group appointed as Senior Vice President, Chief Financial Officer, and Treasurer?

California Water Service Group has appointed James P. Lynch as Senior Vice President, Chief Financial Officer, and Treasurer.

When will James P. Lynch assume his new role?

James P. Lynch will assume his new role effective January 3, 2024.

What is James P. Lynch's professional background?

James P. Lynch has over 22 years of experience in the water utility industry, including 12 years at SJW Group and 14 years as an Audit Partner at KPMG, LLP.

What is the role of David B. Healey in the company?

David B. Healey will serve as Principal Financial Officer on an interim basis, ensuring a smooth transition and supporting the company in its fiscal year 2023 financial reporting.

What is the reaction of Chairman and CEO Martin A. Kropelnicki to James P. Lynch's appointment?

Chairman and CEO Martin A. Kropelnicki expressed that Jim's financial expertise and extensive experience with regulated water utilities make him the perfect fit for the role.