Shareowners Elect Five Directors at New Jersey Resources’ 68th Annual Meeting

Rhea-AI Summary

New Jersey Resources (NYSE: NJR) held its 68th Annual Shareowners Meeting virtually due to COVID-19, where shareowners elected M. William Howard for a one-year term and re-elected Donald L. Correll, James H. DeGraffenreidt Jr., M. Susan Hardwick, and George R. Zoffinger for three-year terms. CEO Steve Westhoven emphasized the board's expertise and NJR's commitment to a clean energy future. Shareowners also approved an advisory resolution on executive compensation and ratified Deloitte & Touche LLP as the accounting firm for FY 2021.

Positive

• Board leadership re-elected, indicating shareowner confidence.
• Approval of advisory resolution on executive compensation suggests alignment with shareowner interests.
• Commitment to clean energy growth aligns with market trends.

Negative

• None.

New Jersey Resources (NYSE: NJR) today hosted its 68^th Annual Shareowners Meeting. Due to the COVID-19 pandemic, the meeting was held virtually. By an overwhelming majority, shareowners elected M. William Howard for a one-year term that will expire in 2022 and re-elected Donald L. Correll, James H. DeGraffenreidt Jr., M. Susan Hardwick and George R. Zoffinger, for three-year terms that will expire in 2024.

“We have an exceptional board of directors, whose extensive expertise continues to serve our customers, company and shareowners well. With the strong leadership of our board and dedication of our team, NJR is well positioned for long-term growth in a clean energy future,” said Steve Westhoven, President and Chief Executive Officer of New Jersey Resources. “I appreciate the trust our shareowners have placed in our company, and we will continue to work hard to reward their confidence with our performance.”

In other business, shareowners approved a non-binding advisory resolution on the compensation of NJR’s named executive officers and ratified the appointment of Deloitte & Touche LLP as its independent registered public accounting firm for the fiscal year ending September 30, 2021.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

• New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,500 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean, Morris, Middlesex and Burlington counties.
• NJR Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of 357 megawatts, providing residential and commercial customers with low-carbon solutions.
• NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
• Storage & Transportation serves customers from local distributors and producers to electric generators and wholesale marketers through its ownership of Leaf River Energy Center and the Adelphia Gateway Pipeline Project, as well as our 50 percent equity ownership in the Steckman Ridge natural gas storage facility, and our 20 percent equity interest in the PennEast Pipeline Project.
• NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its nearly 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®. For more information about NJR: www.njresources.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210120005634/en/

FAQ

What major decisions were made at the NJR Annual Shareowners Meeting?

M. William Howard was elected for a one-year term, while other board members were re-elected for three-year terms.

Who did New Jersey Resources appoint as its independent accounting firm for fiscal year 2021?

Deloitte & Touche LLP was ratified as the independent registered public accounting firm for FY 2021.

What initiatives does New Jersey Resources focus on for long-term growth?

NJR focuses on clean energy services and promoting conservation through various initiatives.

How did the shareowners respond to the executive compensation advisory resolution?

Shareowners approved the non-binding advisory resolution on the compensation of NJR’s named executive officers.