Essential Utilities Announces Appointment of David Ciesinski to Board of Directors
Essential Utilities (NYSE: WTRG) has appointed David Ciesinski to its board of directors, where he will serve on the audit and corporate governance committees. Ciesinski, currently the president and CEO of Lancaster Colony Corporation, brings extensive experience in leadership and growth strategies. His appointment follows a national search aimed at enhancing board expertise, particularly in growth and branding. The company aims to leverage Ciesinski's background in acquisitions to bolster its long-term growth strategy.
- David Ciesinski's extensive experience in leading growth strategies is expected to enhance Essential Utilities' board expertise.
- Ciesinski's background in acquisitions may facilitate the execution of the company's long-term growth strategy.
- Concerns about potential gaps in continuity during the leadership transition.
Essential Utilities Inc. (NYSE: WTRG) announces the appointment of David Ciesinski to the Essential board of directors. Ciesinski will serve as a member of the audit and the corporate governance committees of the board.
Essential Utilities announces appointment of David Ciesinski to board of directors (Photo: Business Wire)
Ciesinski is the president, CEO and director of Lancaster Colony Corporation and the president of T. Marzetti Company where he has rebuilt the company leadership team and led the development and implementation of the company’s growth plan, which has consistently delivered top-quartile financial results and world-class workplace safety results.
“After a national search for a new director, the experience and expertise that Dave will bring to the Essential board is clear. He will be an excellent representative of the shareholders in guiding the company, particularly in matters of growth and branding. Dave’s experience in growth through acquisition will add value as we continue to execute our long-term growth strategy,” said Essential Chairman and CEO Christopher Franklin.
Prior to his appointment at T. Marzetti, Ciesinski was the EVP and president of Kraft’s Meal Solutions division, where he oversaw the turnaround of the division and the revitalization and launch of brands. He is a West Point graduate and a veteran of the U.S. Army with service during the first Gulf War in Iraq, where he earned a Bronze Star Medal. Ciesinski also earned a master’s degree in marketing and finance from the Tepper School of Business at Carnegie Mellon University.
About Essential
Essential is one of the largest publicly traded water, wastewater and natural gas providers in the U.S., serving approximately 5 million people across 10 states under the Aqua and Peoples brands. Essential is committed to excellence in proactive infrastructure investment, regulatory expertise, operational efficiency and environmental stewardship. The company recognizes the importance water and natural gas play in everyday life and is proud to deliver safe, reliable services that contribute to the quality of life in the communities it serves. For more information, visit http://www.essential.co.
Forward-looking statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others: the company’s role in the United States’ infrastructure investments; its ability to be an industry leader in protecting the environment; the guidance range of adjusted income per diluted common share for the fiscal year ending in 2021; the 3-year earnings growth from 2021 to 2023; the projected total regulated water segment customer growth for 2021; the anticipated amount of capital investment in 2021; the anticipated amount of capital investment from 2021 through 2023; and the company’s anticipated rate base growth from 2021 through 2023. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: disruptions in the global economy; financial and workforce impacts from the COVID-19 pandemic; the continuation of the company's growth-through-acquisition program; the company’s continued ability to adapt itself for the future and build value by fully optimizing company assets; general economic business conditions; the company’s ability to fund needed infrastructure; housing and customer growth trends; unfavorable weather conditions; the success of certain cost-containment initiatives; changes in regulations or regulatory treatment; availability and access to capital; the cost of capital; disruptions in the credit markets; the success of growth initiatives; the company’s ability to successfully close municipally owned systems presently under agreement; the company’s ability to continue to deliver strong results; the company’s ability to continue to pay its dividend, add shareholder value and grow earnings; municipalities’ willingness to privatize their water and/or wastewater utilities; the company’s ability to control expenses and create and maintain efficiencies; the company’s ability to acquire municipally owned water and wastewater systems listed in its “pipeline”; and other factors discussed in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, which are filed with the Securities and Exchange Commission. For more information regarding risks and uncertainties associated with Essential's business, please refer to Essential's annual, quarterly and other SEC filings. Essential is not under any obligation - and expressly disclaims any such obligation - to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
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