Global Water Resources Appoints Senior Utility Industry Expert, Christopher D. Krygier, as Chief Strategy Officer

Rhea-AI Summary

Global Water Resources has appointed Christopher D. Krygier as chief strategy officer, enhancing its leadership in water resource management. Krygier's 15 years of industry experience includes roles in operations management, regulatory strategy, and capital deployment. His expertise is expected to support Global Water's commitment to efficiency and conservation, while accelerating the growth of its Total Water Management platform. The company operates 12 utilities, primarily in Arizona, and is recognized for its effective recycling practices, managing nearly 1 billion gallons of water annually.

Positive

• Appointment of Christopher D. Krygier as chief strategy officer brings over 15 years of experience.
• Krygier's expertise in regulatory strategy and capital deployment expected to benefit company growth.
• The company aims to accelerate growth through its Total Water Management platform.

Negative

• None.

PHOENIX, June 03, 2020 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS) (TSX: GWR), a pure-play water resource management company, has appointed noted utility industry leader, Christopher D. Krygier, to the new position of chief strategy officer.

Krygier brings to Global Water more than 15 years of experience in operations management, regulatory strategy, and capital deployment for large projects and transactions, along with multi-state experience and industry knowledge. He has extensive experience representing utilities before the Arizona Corporation Commission, other public utility commissions, and municipal and county governments regarding the formulation of policy, rates, and regulations.

“At Global Water, we are dedicated to providing safe and reliable service with a focus on efficiency and conservation,” noted company president and CEO, Ron Fleming. “Chris’ appointment supports these core values and our plans to accelerate the growth of our proven Total Water Management platform. We believe our integrated utility solution and expertise create benefits for all stakeholders, from the communities and customers we serve, to our development and municipal partners, dedicated staff, and regulators. Chris significantly enhances our expertise in several areas and will help us address water and wastewater challenges and growth opportunities ahead.”

“His leadership experience across many areas and localities, including utility management, acquisition/integration, finance, and regulatory affairs, makes him a great addition to our executive team,” added Fleming. “His knowledge and expertise will help us remain at the forefront of the water management industry, as we continue to improve and grow our core asset base in Arizona, as well as pursue our goal of achieving efficient growth and consolidation throughout the southwest U.S.”

Krygier most recently served as director of operations for a water and wastewater utility division of an investor owned, publicly traded, multi-national renewable energy, and regulated utility conglomerate. He served as its director of rates, regulatory and governmental affairs, and in other positions for a division that served hundreds of thousands of customer connections throughout Missouri, Iowa, and Illinois. He played an integral role in the acquisition and integration of multiple billion-dollar transactions related to wind power generation and distribution.

Earlier in his career, Krygier held several positions of increasing responsibility at Arizona’s largest water and wastewater investor owned utility. He has also served on numerous utility industry and volunteer boards and committees.

He earned his Bachelor of Science in Economics and MBA in Finance from Arizona State University’s W. P. Carey School of Business. He is also a Certified Management Accountant as designated by the Institute of Management Accountants.

About Global Water Resources
Global Water Resources, Inc. is a leading water resource management company that owns and operates 12 utilities which provide water, wastewater, and recycled water services. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix. Global Water recycles nearly 1 billion gallons of water annually.

The company has been recognized for its highly-effective implementation of Total Water Management (TWM), an integrated approach to managing the entire water cycle by owning and operating water, wastewater, and recycled water utilities within the same geographic area to maximize the beneficial use of recycled water and reduce total water consumption. TWM conserves water by using the right water for the right use and helps protect water supplies in water-scarce areas experiencing population growth. To learn more, visit www.gwresources.com.

Cautionary Note Regarding Forward-Looking Statements
This press release includes certain forward-looking statements which reflect the company's expectations regarding future events. The forward-looking statements involve a number of assumptions, risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning our strategy, growth opportunities, including in our core asset base, acceleration of our growth, consolidation, acquisition plans, benefits to stakeholders, and other statements that are not historical facts as well as statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", or the negative of these terms, or other words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to a number of risks, uncertainties, and assumptions, most of which are difficult to predict and many of which are beyond our control. Actual results may differ materially from these expectations due to changes in political, economic, business, market, regulatory, and other factors, including the duration and severity of the COVID-19 pandemic and the actions to contain the virus or treat its impact. Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements, which reflect management’s views as of the date hereof. Factors that may affect future results are disclosed under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our filings with the Securities and Exchange Commission (the "SEC"), which are available at the SEC's website at www.sec.gov. This includes, but is not limited to, our Annual Report on Form 10-K for the year ended December 31, 2019, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, and subsequent filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, except as required by law, whether as a result of new information, future developments, or otherwise.

Company Contact:
Michael J. Liebman
CFO and SVP
Tel (480) 999-5104
mike.liebman@gwresources.com

Investor Relations Contact:
Ron Both or Grant Stude
CMA Investor Relations
Tel (949) 432-7566
GWRS@cma.team

FAQ

Who is Christopher D. Krygier and what is his role at Global Water Resources?

Christopher D. Krygier has been appointed as chief strategy officer, bringing over 15 years of experience in operations management and regulatory strategy.

What are the expected impacts of Krygier's appointment on Global Water Resources?

His appointment is expected to enhance growth strategies and operational efficiency within the company.

What is the Total Water Management platform at Global Water Resources?

The Total Water Management platform integrates water, wastewater, and recycled water utility services to maximize resource efficiency and conservation.

How many utilities does Global Water Resources operate?

Global Water Resources operates 12 utilities primarily located in growth corridors around metropolitan Phoenix.