Essential Utilities Appoints New Vice President of Financial Planning

Rhea-AI Summary

Essential Utilities has appointed Jim Barbato as the new vice president of financial planning and analysis from his previous role as vice president of corporate engineering. He will report to the CFO and oversee financial planning functions, including budgeting, forecasting, and capital budgeting. Barbato has been with the company since 2007, holding various engineering roles across several states. His extensive experience in capital planning and engineering makes him well-suited for this strategic position. CFO Dan Schuller emphasized the importance of investment in infrastructure for the company's mission.

Positive

• Jim Barbato brings extensive experience in capital planning and engineering to his new role.
• Barbato's promotion indicates a strong focus on strategic financial planning at Essential.

Negative

• None.

BRYN MAWR, Pa.--(BUSINESS WIRE)-- Essential Utilities has announced that Jim Barbato has been appointed to the new role of vice president of financial planning and analysis from his previous role as vice president of corporate engineering. In his new position, Barbato will report to the CFO and assume responsibility for all financial planning and analysis functions, including overall management and execution of the budgeting and multi-year financial planning process, forecasting, and data-driven decision making to help the company achieve its strategic objectives. He will retain his responsibility for overall capital budgeting for the corporation.

Jim Barbato has been appointed vice president of financial planning and analysis from his previous role as vice president of corporate engineering. (Photo: Business Wire)

Essential Chief Financial Officer Dan Schuller said, “Investment in infrastructure is key to our ability to achieve our mission at Essential. Having an analytical, business-minded engineering professional with extensive experience capital planning is a real asset for this position and makes Jim perfectly suited for this role at Essential.”

Barbato joined the company in 2007 and has held several engineering roles in Aqua’s New Jersey, Virginia and North Carolina subsidiaries during the earlier years of his career. Barbato managed many engineering activities across the Aqua subsidiaries and has delivered major capital projects to meet the company’s infrastructure requirements.

Barbato later held the positions of Director, Corporate Engineering, and VP Corporate Engineering before being named Chief Engineering Officer for Essential’s water and gas segments. For these roles, Barbato managed the shared services across the Aqua footprint, including our database of record, GIS, the hydraulic modeling and water quality group, energy management and automation standards. He has extensive experience with developing capital budgets, implementing capital plans and providing expert testimony for rate cases.

Prior to joining Aqua, Barbato was a Project Manager for Valero Refining Company, completing a broad range of water, wastewater and petrochemical projects ranging from $5 million to $400 million in capital expenditures.

Barbato earned his B.S. in 1999 at Drexel University and an M.B.A. in 2002 from the University of Delaware and remains active in the American Water Works Association (AWWA), the National Association of Water Companies (NAWC) and the American Gas Association (AGA).

WTRGG

View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005619/en/

Donna Alston

Mgr. Communications

O: 610.645.1095

M: 484.368.4720

Media@Essential.co

Source: Essential Utilities

FAQ

What is the new role of Jim Barbato at Essential Utilities?

Jim Barbato has been appointed vice president of financial planning and analysis.

What were Jim Barbato's previous responsibilities before his promotion?

He was the vice president of corporate engineering.

How long has Jim Barbato worked for Essential Utilities?

Jim Barbato joined the company in 2007.

Who does Jim Barbato report to in his new position?

He reports to the CFO.

What are Jim Barbato's key responsibilities in his new role?

He will manage financial planning, budgeting, forecasting, and capital budgeting.