Aqua America Announces New Director; UGI Corporation Chairman Lon R. Greenberg to Serve
BRYN MAWR, Pa., Oct 05, 2005 (BUSINESS WIRE) -- Aqua America, Inc. (NYSE:WTR) announced that UGI Corporation (NYSE:UGI) Chairman and CEO Lon R. Greenberg, 55, has been appointed to its Board of Directors. UGI, a distributor and marketer of energy products and services, is based in Valley Forge, Pennsylvania.
Greenberg brings a wealth of both utility and business experience to Aqua America. He joined UGI Corporation in 1980 as corporate development counsel, rising to the rank of senior vice president of legal and corporate development over the next decade, before being appointed president of the company in 1994. One year later he was named CEO and was elected Chairman in 1996.
Greenberg, who earned a B.S. in economics from The Wharton School of the University of Pennsylvania and graduated Villanova University's Law School with honors, also completed Harvard University Business School's Advanced Management Program. After receiving his J.D., Greenberg spent four years at Morgan, Lewis & Bockius in Philadelphia after clerking for a Pennsylvania Superior Court judge.
Aqua America Chairman and CEO Nicholas DeBenedictis said that Aqua America was fortunate to have someone of Greenberg's caliber join its board. "We are looking forward to having someone with Lon's utility experience on our Board," said DeBenedictis. "His years of experience in the gas industry, particularly with a company that has experienced significant growth, will undoubtedly add volumes to our brain trust." During the last seven years, UGI's revenues have grown from $1.4 billion to $4.8 billion, earnings per share have grown at a compounded rate of 24.2 percent per year, and total shareholder return has grown at a compounded rate of 26.6 percent per year.
Among his civic activities, Greenberg is chairman of the Pennsylvania Business Roundtable and also serves on the board of the Greater Philadelphia Chamber of Commerce, the United Way of Southeastern Pennsylvania Campaign Cabinet, and Reading is Fundamental.
Aqua America, Inc. is the largest U.S.-based publicly-traded water utility, serving more than 2.5 million residents in Pennsylvania, Ohio, North Carolina, Illinois, Texas, Florida, New Jersey, Indiana, Virginia, Maine, Missouri, New York, and South Carolina. Aqua America is listed on both the New York and Philadelphia Stock Exchanges under the ticker symbol WTR.
WTRG
SOURCE: Aqua America, Inc.
Aqua America, Inc.
Donna Alston, 610-645-1095
dpalston@aquaamerica.com
or
Terry Maenza, 610-645-1175
tmmaenza@aquaamerica.com
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