Aquarion Company Announces Senior Management Changes.Business Editors BRIDGEPORT, Conn.--(BUSINESS WIRE)--June 30, 2003 Charles "Chuck" V. Firlotte has been appointed President and Chief Executive Officer of Aquarion Company, succeeding Richard K. Schmidt who has elected to retire concurrent with the management change, company officials announced today. Schmidt will continue as a non-executive director A non-executive director (NED, also NXD) or outside director is a member of the board of directors of a company who does not form part of the executive management team. He or she is not an employee of the company or affiliated with it in any other way. of Kelda Group Kelda Group plc (LSE: KEL) is a British utility company. It is based in Bradford, England and is listed on the London Stock Exchange. It is a constituent of the FTSE 250 Index. plc of Bradford, England, Aquarion's parent company. Additionally, Firlotte will become President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Aquarion Water Company and its subsidiaries succeeding Janet M. Hansen, who has been appointed Chairman of Aquarion Water Company. The management changes are effective September 1, 2003. Firlotte will assume the operating responsibilities for Aquarion and its water company subsidiaries. In addition to her chairman duties, Hansen will continue to serve as executive vice president of Aquarion Company, the water utility's parent. "These changes are in line with the succession planning Management Succession Planning In organizational development, succession planning is the process of identifying and preparing suitable employees through mentoring, training and job rotation, to replace key players — such as the chief executive officer (CEO) — envisioned when Chuck left Aquarion in 2000 to become Director of Kelda's Yorkshire Water business," said Kevin Whiteman, Kelda Group CEO. Prior to the Yorkshire Water post, Firlotte served as Aquarion Water's senior vice president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "After successfully assuming progressively increased responsibilities at Yorkshire, this action demonstrates the confidence we have in Chuck's management and leadership qualities, attributes that will be essential as we seek to continue to expand Aquarion's businesses in the US," Whiteman said. Commenting on Hansen, Whiteman said, "Janet's considerable experience with the company has proven invaluable as it has met and overcame various financial and operating challenges. The company will benefit greatly from her strong talents and vast experience as she works on issues that are critical to the success and advancement of Aquarion Water Company." He noted that Aquarion has accomplished much under Schmidt's leadership. "The company's water utility business has almost doubled, and we completed the largest open space land sale in Connecticut and Aquarion's history," said Whiteman. "As a member of the Kelda Group board, Rich's expertise, foresight and strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. abilities have been great assets. We're pleased that Rich will continue to offer his expertise as a non-executive director of Kelda." Firlotte will reside in Easton, CT. He joined Aquarion Water Company's predecessor, Bridgeport Hydraulic Company (BHC BHC benzene hexachloride. BHC, ?-BHC see benzene hexachloride. ), in 1987 as director of human resources and administrative services and was elected a vice president in 1988. In 1991, he was elected a vice president of Aquarion Water's parent, Aquarion Company. He was appointed vice president of operations for Aquarion Water in 1992 and senior vice president and chief operating officer in 1995. Firlotte was named Director of Kelda's Yorkshire Water business in 2000. Prior to joining Aquarion, he was director of human resources and labor relations at Combustion Engineering Canada. Firlotte is a graduate of St. Thomas University Schools with the name St. Thomas University:
A Trumbull, CT resident, Hansen joined BHC in 1975. Subsequently, she held various accounting and financial positions of increasing responsibility and was elected a vice president of the water company in 1989. She was appointed its chief financial officer in 1991, Aquarion's vice president and chief financial officer in 1992, a senior vice president in 1993 and executive vice president and chief financial officer of Aquarion in 1995. In 2000, Hansen was appointed president and chief executive officer of Aquarion Water Company, making her the first woman to serve as its chief executive in its 143-year history. She also became one of a few women at the helm of a major private or public water company in the nation. Hansen graduated from Salem State College
Salem State College is a four-year public institution of higher learning located in the city of Salem, Massachusetts. in Massachusetts, earned a master of business administration degree from the University of Connecticut The University of Connecticut is the State of Connecticut's land-grant university. It was founded in 1881 and serves more than 27,000 students on its six campuses, including more than 9,000 graduate students in multiple programs. UConn's main campus is in Storrs, Connecticut. and completed the Harvard University Advanced Management Program. Schmidt, who joined Aquarion in 1992, was elected president and chief executive officer in 1995. Prior to Aquarion, he served as president and chief operating officer of Mechanical Technology, Inc., in Latham, NY. Before that post, he co-founded and served as president and chief executive officer of Gundle Environmental Systems in Houston, TX. Schmidt began his career and long association with water quality-related businesses when he joined Ecodyne Corporation. Schmidt, a Fairfield resident, graduated from Tulane University. He earned a doctorate in environmental engineering from the University of Texas and completed the program for Management Development at Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. . Aquarion Company, through its Aquarion Water Company subsidiary, is one of the ten largest investor-owned water utilities in the U.S., serving approximately 211,000 homes and businesses, or approximately 677,000 people in Connecticut, Massachusetts, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). . Kelda, through its Yorkshire Water subsidiary, provides water and wastewater services to 4.5 million people in the United Kingdom, operating some 130 water and 640 wastewater facilities. Kelda is also a significant contracted services provider. Note: For more information on Aquarion Company and its subsidiaries, please contact us on the Internet at www.aquarion.com. |
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