Rick Knowlton Retiring as Maine Water Company President

Rhea-AI Summary

The Maine Water Company announced the retirement of President Richard Knowlton, effective June 17, 2022, after a notable 29-year career. Mark Vannoy, currently vice president, will succeed him. Knowlton's leadership has significantly expanded the company's service area from 40,000 to 80,000 customers and overseen crucial infrastructure projects, including a $60 million Saco River Drinking Water Resource Center. This transition aims to ensure continued high-quality water service, benefiting the communities served.

Positive

• Expansion of service area from 40,000 to 80,000 customers in 21 communities.
• Completed significant infrastructure projects, including a $60 million water resource center.

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• None.

Leaving a strong legacy of building and maintaining drinking water infrastructure to serve customers

Mark A. Vannoy to be new president

SACO, Maine--(BUSINESS WIRE)-- The Maine Water Company has announced that Richard Knowlton will be retiring as Maine Water’s president, effective June 17, 2022. Knowlton joined what is now Maine Water as vice president of operations in 1993 and became company president in 2017.

Richard Knowlton (left) and Mark Vannoy at Maine Water’s new Saco River Drinking Water Resource Center in Biddeford, Maine. Knowlton is retiring as Maine Water’s president on June 17, 2022, following a distinguished 29-year career. Vannoy, vice president of Maine Water, will become president following Knowlton’s retirement. (Photo: Business Wire)

“The customers and communities of Maine Water will continue to benefit for years to come from Rick’s commitment to providing high-quality water service and his leadership of the Maine Water team in that mission,” stated Maureen P. Westbrook, president of CTWS, which is the New England subsidiary of SJW Group that includes Maine Water. “He has been ‘the face of Maine Water’ in the communities and with state officials for decades and is leaving a remarkable legacy of investing in drinking water infrastructure so customers will have high-quality water and excellent customer service. Rick has embraced Maine Water’s commitment to the environment, which will also benefit current and future generations of Mainers.”

With his engineering background, Knowlton was involved in water infrastructure projects, large and small across Maine Water – engaged in the planning, construction and regulatory approvals. He has worked to ensure that cost-effective investments were made to improve water quality and enhance service in all of Maine Water’s service communities.

Knowlton played a critical role in the design and construction of the $7.2 million Mirror Lake Drinking Water Treatment Plant completed in 2010 that serves customers in the Camden-Rockland Division, and the nearly completed $60 million Saco River Drinking Water Resource Center that will replace the 1884 water treatment plant currently serving Biddeford-Saco Division customers. Both of those facilities are built to be energy and operationally efficient, incorporating solar energy in the design at both sites.

In the 29 years that Knowlton has been with Maine Water, or its predecessor companies, the company has grown from serving 40,000 people in 16 communities to serving 80,000 people in 21 communities. In addition, Knowlton has had a part in the following system investments:

• 7 new water treatment facilities
• 9 new water storage tanks; and
• Installation of over 200,000 feet, or about 38 miles, of water main.

After becoming president, Knowlton led Maine Water’s partnership with the Coastal Mountains Land Trust to preserve 1,300 acres of open space on the south side of Ragged Mountain in the communities of Rockport and Hope; the acreage now hosts part of the Round the Mountain Trail.

Mark Vannoy, vice president of Maine Water, will become president upon Knowlton’s retirement. Prior to joining the company in 2019, Vannoy served on the Maine Public Utility Commission and was chair for four years beginning in 2014.

“We are fortunate to have a leader of Mark’s caliber become president,” stated Westbrook. “Mark has been assuming increased responsibilities for day-to-day operations while Rick focused on completion of the new Saco River Drinking Water Resource Center. Mark’s commitment to a culture of service, technical expertise and respect for the environment will serve employees, customers and communities well.” She further noted that Mark is a natural to lead the business with his technical experience as an engineer and his credibility as a former regulator.

“Maine Water will be in good and capable hands,” stated Knowlton. “Mark and I have worked closely together over the past three years, and he is a natural and accomplished leader committed to serving our Maine employees and communities. We will use the next six weeks to meet with employees and local and state leaders to complete a smooth transition.”

Vannoy is a retired U.S. Navy officer and a graduate of the United States Naval Academy; he holds a master’s degree in civil and environmental engineering from Cornell University. He lives in Waldoboro with his family and is active in the local community.

About The Maine Water Company

Maine Water is a wholly owned subsidiary of SJW Group’s New England subsidiary, Connecticut Water Service, Inc. Maine Water and its predecessor companies have been serving customers in the state of Maine since 1880. The company provides water service to a population of more than 80,000 in 21 communities across Maine.

About SJW Group

SJW Group (NYSE: SJW) is among the largest investor-owned pure play water and wastewater utilities in the United States, providing life-sustaining and high-quality water service to nearly 1.5 million people. SJW Group’s locally led and operated water utilities — San Jose Water Company in California, Connecticut Water Company in Connecticut, Maine Water Company in Maine and SJWTX Inc. (dba Canyon Lake Water Service Company) in Texas — possess the financial strength, operational expertise and technological innovation to deliver outstanding service to customers, safeguard the environment and provide opportunities to employees. SJW Group remains focused on investing in its operations, remaining actively engaged in its local communities and delivering continued sustainable value to its shareholders. For more information about SJW Group, please visit www.sjwgroup.com.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Some of these forward-looking statements can be identified by the use of forward-looking words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” “projects,” “strategy,” or “anticipates,” or the negative of those words or other comparable terminology. These forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict.

These forward-looking statements involve a number of risks, uncertainties and assumptions including, but not limited to, the following factors: (1) the effect of water, utility, environmental and other governmental policies and regulations, including actions concerning rates, authorized return on equity, authorized capital structures, capital expenditures and other decisions; (2) changes in demand for water and other services; (3) the impact of the Coronavirus (“COVID-19”) pandemic on our business operation and financial results; (4) unanticipated weather conditions and changes in seasonality including those affecting water supply and customer usage; (5) climate change and the effects thereof; (6) unexpected costs, charges or expenses; (7) our ability to successfully evaluate investments in new business and growth initiatives; (8) contamination of our water supplies and damage or failure of our water equipment and infrastructure; (9) the risk of work stoppages, strikes and other labor-related actions; (10) catastrophic events such as fires, earthquakes, explosions, floods, ice storms, tornadoes, hurricanes, terrorist acts, physical attacks, cyber-attacks, epidemic, or similar occurrences; (11) changes in general economic, political, business and financial market conditions; (12) the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, changes in interest rates, compliance with regulatory requirements, compliance with the terms and conditions of our outstanding indebtedness, and general market and economic conditions; and (13) legislative and general market and economic developments. The risks, uncertainties and other factors may cause the actual results, performance or achievements of SJW Group to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Results for a quarter are not indicative of results for a full year due to seasonality and other factors. Other factors that may cause actual results, performance or achievements to materially differ are described in SJW Group’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC. Forward-looking statements are not guarantees of performance, and speak only as of the date made. SJW Group undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220502005513/en/

Dan Meaney, APR

Director of Corporate Communications and Public Affairs

Connecticut Water Co.

Daniel.Meaney@ctwater.com

860.664.6016

Source: The Maine Water Company

FAQ

What is the significance of Richard Knowlton's retirement from SJW Group?

Richard Knowlton's retirement marks the end of a 29-year career, during which he significantly expanded Maine Water's customer base and improved infrastructure.

Who will succeed Richard Knowlton as president of Maine Water?

Mark Vannoy, the current vice president of Maine Water, will become president following Knowlton's retirement on June 17, 2022.

What major projects did Richard Knowlton oversee during his tenure?

Knowlton oversaw the construction of the $60 million Saco River Drinking Water Resource Center and the $7.2 million Mirror Lake Drinking Water Treatment Plant.

How has Maine Water's customer base changed under Richard Knowlton's leadership?

Under Knowlton's leadership, Maine Water expanded its customer base from 40,000 to 80,000 people.

What is the role of Mark Vannoy at Maine Water?

Mark Vannoy is the vice president of Maine Water, and he will assume the role of president after Richard Knowlton's retirement.