Water Industry News
American Water names Donald
L. Correll as President and CEO
VOORHEES, N.J.--(BUSINESS WIRE)--March 20, 2006--American Water,
the largest and most geographically diversified provider of water
services in North America, today announced the appointment of Donald
L. Correll as president and chief executive officer (CEO), effective
April 17th. George MacKenzie, who has served as the Company's interim
CEO since January 1, 2006, will continue as a non-executive member of
the Company's Board of Directors.
Harry Roels, president and CEO of RWE AG, American Water's parent
company said, "Mr. Correll has served in leadership roles in the
industry for more than 30 years. He has also steered several companies
through transitions, growth and expansion. This experience makes him a
natural choice for American Water."
For the past three years, Correll has served as president & CEO of
Pennichuck Corporation, located in Merrimack, New Hampshire. During
his tenure, the company has reported solid financial performance and
growth in market value and customer service.
Prior to that, Correll led United Water Resources of Harrington
Park, New Jersey, as chairman, president and CEO. Under his direction,
the company's market capitalization increased from $400 million to
$1.8 billion, its revenue base grew from $150 million to $500 million,
and the employee base quadrupled. He is also credited with expanding
the customer base from 1 million in two states to 7.5 million in 19
Correll held a variety of senior management positions with
increasing responsibility over his more than 25 years with United
Water Resources including senior vice president of Finance, CFO and
treasurer. Correll was instrumental in the formation of a holding
company and its' re-listing on the New York Stock Exchange and
ultimately, led the company through the sale process to Suez Lyonnaise
Correll serves on the boards of a variety of civic, professional
and business organizations, including the Environmental Financial
Advisory Board of the United States Environmental Protection Agency
and the National Association of Water Companies. In addition, he is a
member of the Board of Directors of HealthSouth Corp. and Interchange
Financial Services Corporation, and is a Commissioner of the New
Jersey Water Supply Authority.
Correll is a graduate of The Pennsylvania State University and New
York University, where he earned a BS in Accounting, and an MBA in
Finance, respectively. He is also a Certified Public Accountant in New
Roels noted his appreciation for George MacKenzie's contributions
over the past few months. "Mr. MacKenzie has provided solid
for American Water and I am very pleased that he has agreed to return
to the company's Board of Directors as a non-executive member."
With a history of over 100 years, American Water provides high
quality water, wastewater, and other related services at a fair price
to over 18 million people in 29 states and 3 Canadian provinces.
Employing approximately 7,000, American Water is the largest water
services provider in North America. More information can be found by
RWE AG, based in Essen, Germany, is one of the leading
international utility companies. The company provides customers with
electricity, gas and water, as well as services related to these
products. RWE's core markets include Germany, the UK and Continental
Europe. Major companies and millions of households throughout Europe
rely every day on the RWE Group's products and services. In fiscal
year 2005, approximately 85,000 employees worldwide within the RWE
Group generated external revenue of nearly EUR 42 billion.