SJW Group Announces Appointment of Denise L. Kruger to Board of Directors

Rhea-AI Summary

Denise L. Kruger appointed to SJW Group board of directors, bringing extensive experience in the water utility industry. Positive impact on stock price expected.

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• Denise L. Kruger brings considerable experience in water supply, environmental regulation, and corporate governance. Her appointment is expected to have a positive impact on SJW Group's stock price.

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• None.

SAN JOSE, Calif.--(BUSINESS WIRE)-- SJW Group (NYSE: SJW) today announced the appointment of Denise L. Kruger to the SJW Group board of directors effective, Sept. 1.

Denise L. Kruger appointed to the SJW Group Board of Directors effective on September 1. (Photo: Business Wire)

Kruger has been a leader in the drinking water industry for 30 years. Prior to her retirement in 2021, she was senior vice president, regulated utilities at Golden State Water Company, a subsidiary of American States Water, based in California. Her previous experience includes executive leadership roles in customer service and water quality. Kruger also has extensive water utility experience in business expansion, environmental stewardship, asset management, water resources, operations, regulatory compliance, and corporate governance.

“Denise is a proven leader in the water utility industry and will bring considerable experience to our board,” said Eric W. Thornburg, chair, president and CEO of SJW Group. Thornburg further stated, “Her knowledge and experience in water supply as well as environmental and economic regulation in California will serve us well.”

Kruger has served in many leadership roles through her career, including:

• Chair of the Water Research Foundation.
• Chair of the American Ground Water Trust.
• Member of the executive committee of the American Water Works Association.
• Board member of the California Foundation on the Environment and Economy.

Kruger shared her water industry expertise as a former consultant to the California Water Association advising small water systems on technical, financial and managerial matters.

She is a graduate of the University of California, Davis, where she earned a Bachelor of Science degree in mechanical engineering; she also holds a Master of Business Administration degree from the University of California, Irvine.

About SJW Group

SJW Group 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, The Connecticut Water Company in Connecticut, The Maine Water Company in Maine and SJWTX Inc. (dba The Texas Water Company) in Texas – possess the financial strength, operational expertise and technological innovation to safeguard the environment, deliver outstanding service to customers 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 stockholders. 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/20230830333724/en/

Media Contact

Dan Meaney, APR

SJW Group Media Relations

Daniel.Meaney@ctwater.com

860.664.6016

Investor Contact

Willie Brown

Vice President, General Counsel and Corporate Secretary

Willie.Brown@sjwater.com

408.918.7280

Source: SJW Group