SJW Group Announces Leadership Transition and Executive Promotions to Drive Continued Growth
SJW Group (NASDAQ: SJW) announced a significant leadership transition effective July 1, 2025. Eric W. Thornburg will retire as CEO and President after eight years of leadership, transitioning to non-executive Chair of the Board. Andrew F. Walters, current CFO and Treasurer, will become the new CEO.
The company also announced two key executive promotions: Bruce A. Hauk, Chief Operating Officer, will serve as President, and Kristen A. Johnson will become President of the newly formed Shared Services organization.
Under Thornburg's tenure, SJW Group achieved notable growth, including the 2019 acquisition of Connecticut Water Service, expanding operations from two to four states. The company's Texas operations quadrupled in water and wastewater connections since 2006, now serving 1.6 million customers nationwide.
Il Gruppo SJW (NASDAQ: SJW) ha annunciato una significativa transizione di leadership efficace dal 1° luglio 2025. Eric W. Thornburg si ritirerà come CEO e Presidente dopo otto anni di leadership, passando a Presidente non esecutivo del Consiglio. Andrew F. Walters, attuale CFO e Tesoriere, diventerà il nuovo CEO.
L'azienda ha anche annunciato due promozioni esecutive chiave: Bruce A. Hauk, Direttore Operativo, assumerà il ruolo di Presidente, e Kristen A. Johnson diventerà Presidente della nuova organizzazione per i Servizi Condivisi.
Sotto la guida di Thornburg, il Gruppo SJW ha raggiunto una crescita notevole, inclusa l'acquisizione nel 2019 del Connecticut Water Service, espandendo le operazioni da due a quattro stati. Le operazioni in Texas hanno quadruplicato le connessioni idriche e fognarie dal 2006, servendo ora 1,6 milioni di clienti a livello nazionale.
Grupo SJW (NASDAQ: SJW) anunció una importante transición de liderazgo efectiva el 1 de julio de 2025. Eric W. Thornburg se retirará como CEO y Presidente después de ocho años de liderazgo, pasando a ser Presidente no ejecutivo de la Junta. Andrew F. Walters, actual CFO y Tesorero, se convertirá en el nuevo CEO.
La compañía también anunció dos promociones ejecutivas clave: Bruce A. Hauk, Director de Operaciones, asumirá el cargo de Presidente, y Kristen A. Johnson se convertirá en Presidenta de la nueva organización de Servicios Compartidos.
Bajo la dirección de Thornburg, el Grupo SJW logró un notable crecimiento, incluida la adquisición en 2019 de Connecticut Water Service, expandiendo sus operaciones de dos a cuatro estados. Las operaciones en Texas cuadruplicaron las conexiones de agua y aguas residuales desde 2006, sirviendo ahora a 1.6 millones de clientes en todo el país.
SJW 그룹 (NASDAQ: SJW)는 2025년 7월 1일자로 중요한 리더십 전환을 발표했습니다. Eric W. Thornburg는 8년간의 리더십을 마치고 CEO 및 회장직에서 은퇴하며 비상임 이사회 의장으로 전환합니다. 현재 CFO이자 재무 담당인 Andrew F. Walters가 새로운 CEO가 됩니다.
회사는 또한 두 명의 주요 임원 승진을 발표했습니다: Bruce A. Hauk, COO는 회장직을 맡게 되고, Kristen A. Johnson는 새로 구성된 공유 서비스 조직의 회장이 됩니다.
Thornburg의 재임 기간 동안 SJW 그룹은 주목할 만한 성장을 이루었으며, 2019년 Connecticut Water Service 인수를 포함하여 운영을 두 개 주에서 네 개 주로 확장했습니다. 텍사스의 운영은 2006년 이후 물과 폐수 연결이 네 배 증가하여 현재 160만 고객에게 서비스를 제공하고 있습니다.
Groupe SJW (NASDAQ: SJW) a annoncé une transition de leadership significative prenant effet le 1er juillet 2025. Eric W. Thornburg prendra sa retraite en tant que PDG et Président après huit années de leadership, devenant Président non exécutif du Conseil. Andrew F. Walters, actuel CFO et Trésorier, sera le nouveau PDG.
L'entreprise a également annoncé deux promotions exécutives clés : Bruce A. Hauk, Directeur des opérations, assumera le rôle de Président, et Kristen A. Johnson deviendra Présidente de la nouvelle organisation de Services Partagés.
Sous la direction de Thornburg, le Groupe SJW a connu une croissance notable, y compris l'acquisition en 2019 de Connecticut Water Service, élargissant ses opérations de deux à quatre États. Les opérations au Texas ont quadruplé les connexions d'eau et d'eaux usées depuis 2006, servant désormais 1,6 million de clients à l'échelle nationale.
SJW Gruppe (NASDAQ: SJW) gab einen bedeutenden Führungswechsel bekannt, der am 1. Juli 2025 wirksam wird. Eric W. Thornburg wird nach acht Jahren als CEO und Präsident zurücktreten und zum nicht-executiven Vorsitzenden des Vorstands wechseln. Andrew F. Walters, derzeit CFO und Schatzmeister, wird der neue CEO.
Das Unternehmen kündigte außerdem zwei wichtige Beförderungen an: Bruce A. Hauk, Chief Operating Officer, wird Präsident, und Kristen A. Johnson wird Präsidentin der neu gegründeten Abteilung für gemeinsame Dienstleistungen.
Unter Thornburgs Leitung erzielte die SJW Gruppe bemerkenswertes Wachstum, einschließlich der Übernahme von Connecticut Water Service im Jahr 2019, wodurch die Aktivitäten von zwei auf vier Bundesstaaten erweitert wurden. Die texanischen Aktivitäten haben sich seit 2006 vervierfacht, und das Unternehmen bedient nun landesweit 1,6 Millionen Kunden.
- Planned and orderly CEO succession maintaining leadership continuity
- Current CEO remains as Board Chair ensuring smooth transition
- Internal promotions demonstrate strong succession planning
- Significant growth track record with Texas operations quadrupling since 2006
- Geographic diversification across 4 states serving 1.6M customers
- Loss of experienced CEO with 40+ years industry expertise
- Pending CFO vacancy with Walters' promotion to CEO
- Eric W. Thornburg to retire as Chief Executive Officer and President effective June 30, 2025; will remain on as non-executive Chair of the Board
- Andrew F. Walters named next Chief Executive Officer
- Bruce A. Hauk promoted to President
- Kristen A. Johnson promoted to President of the newly formed Shared Services organization
SAN JOSE, Calif., Feb. 27, 2025 (GLOBE NEWSWIRE) -- SJW Group (NASDAQ: SJW), one of the nation’s largest investor-owned pure-play water and wastewater utilities, today announced a leadership transition that marks the next phase of the company’s strategic direction and planned growth. After eight years of servant leadership and over 40 years of service to the drinking water profession, Eric W. Thornburg will retire as Chief Executive Officer (CEO) and President of SJW Group on June 30, 2025. He will remain on the SJW Group Board of Directors (the “Board”) as non-executive Chair of the Board.
The Board has appointed Andrew F. Walters as the company’s next CEO, effective July 1, 2025. Walters, who currently serves as Chief Financial Officer and Treasurer of SJW Group, has been a driving force in the company’s financial strength and growth. The Company will name a new Chief Financial Officer and Treasurer to succeed Mr. Walters.
In addition, SJW Group is pleased to announce the promotion of key members of its executive team to further strengthen its leadership structure:
- Bruce A. Hauk, Chief Operating Officer of SJW Group, will also serve as President of SJW Group. Hauk has nearly 30 years of water utility experience.
- Kristen A. Johnson, Senior Vice President and Chief Administrative Officer of SJW Group, will also step into the role of President of the Shared Services organization. Johnson has nearly 20 years of water utility experience.
The promotions of Hauk and Johnson are also effective July 1, 2025.
A Legacy of Growth and Impact
Under Thornburg’s tenure, SJW Group has experienced transformational growth and operational excellence. A key architect of the 2019 acquisition of Connecticut Water Service, Inc. Thornburg successfully expanded the company’s geographic footprint from two states to four, positioning SJW Group as one of the nation’s largest investor-owned water utilities. During his tenure, the Company also delivered tremendous growth in the company’s Texas operations, which have quadrupled in water and wastewater connections since their acquisition in 2006. Most importantly, he built a national leadership team that is collaboratively strengthening and supporting the four local utilities under the SJW Group umbrella while enhancing service for 1.6 million customers nationwide.
“It has been an incredible privilege to lead and work alongside such a talented team at SJW Group,” said Thornburg. “After 43 years in the water profession, I can say without hesitation that this company and its people share my passion for service to customers, employees and shareholders. I am excited to pass the torch on to Andrew, who has demonstrated exceptional vision, disciplined execution, and a deep commitment to our culture of operational excellence and servant leadership. I have no doubt that he, alongside Bruce, Kristen, and the rest of our seasoned leadership team, will continue to build on our legacy and create an even stronger future for our employees, customers and communities nationwide.”
A Vision for the Future
A proven leader with nearly 25 years of experience in the utility sector, Walters has played an integral role in shaping SJW Group’s financial and operational strategy. As CEO, he will focus on investing in critical infrastructure, enhancing operational efficiencies, and advancing sustainability – while keeping affordability and service excellence at the forefront. Prior to joining SJW Group in 2014, Walters developed deep experience managing infrastructure funds and in investment banking.
“I am truly honored to step into this role and build on the momentum we’ve gained under Eric’s leadership,” said Walters. “I couldn’t ask for better team than Bruce and Kristen, who have been instrumental in driving our success and positioning us for long-term growth. Together, we will continue to deliver operational excellence and sustainable growth, and create long-term value for our customers, employees, and shareholders alike. I look forward to partnering with Eric in his new role as non-executive chair of the board to ensure a smooth transition.”
Media Contact:
Nazan Riahei
VP, Corporate Communications, SJW Group
Nazan.Riahei@sjwater.com
(408) 731-0890
Investor Contact:
Dan Meaney
Director, Investor Relations, SJW Group
(860) 664-6016
Daniel.Meaney@ctwater.com
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 1.6 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 federal securities laws relating to future events and future results of SJW Group and its subsidiaries that are based on current expectations, estimates, forecasts, and projections about SJW Group and its subsidiaries and the industries in which SJW Group and its subsidiaries operate and the beliefs and assumptions of the management of SJW Group. Some of these forward-looking statements can be identified by the use of forward-looking words such as “believes,” “expects,” “estimates,” “anticipates,” “intends,” “seeks,” “plans,” “projects,” “may,” “should,” “will,” "approximately," "strategy," 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. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements.
The accuracy of such statements is subject to 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 regulatory actions concerning rates, authorized return on equity, authorized capital structures, capital expenditures, PFAS and other decisions; (2) changes in demand for water and other services; (3) unanticipated weather conditions and changes in seasonality including those affecting water supply and customer usage; (4) the effect of the impact of climate change; (5) unexpected costs, charges or expenses; (6) our ability to successfully evaluate investments in new business and growth initiatives; (7) contamination of our water supplies and damage or failure of our water equipment and infrastructure; (8) the risk of work stoppages, strikes and other labor-related actions; (9) catastrophic events such as fires, earthquakes, explosions, floods, ice storms, tornadoes, hurricanes, terrorist acts, physical attacks, cyber-attacks, epidemic, or similar occurrences; (10) changes in general economic, political, business and financial market conditions; (11) 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 (12) 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. In addition, actual results, performance or achievements are subject to other risks and uncertainties that relate more broadly to our overall business, including those more fully described in our filings with the SEC, including our most recent reports on Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements are not guarantees of future performance, and speak only as of the date made, and 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, except as required by law.
FAQ
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