UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
| Date of Report (Date of Earliest Event Reported): | May 10, 2012 |
Aqua America, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
| Pennsylvania | 001-06659 | 23-1702594 |
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_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
| 762 West Lancaster Avenue, Bryn Mawr, Pennsylvania | 19010-3489 | |
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_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
| Registrant’s telephone number, including area code: | 610-527-8000 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Roy H. Stahl, 60, Chief Administrative Officer, General Counsel and Secretary of Aqua America, Inc. (the "Company") has announced his retirement effective July 1, 2012 after 30 years with the Company. Mr. Stahl has served in various capacities since joining the Company in 1982, including service as the Company’s chief legal officer since 1984. Mr. Stahl has been succeeded effective May 10, 2012 by Christopher P. Luning as Senior Vice President, General Counsel and Secretary. Mr. Luning has been with the Company since 2003, including service as Deputy General Counsel and, most recently, Vice President, Corporate Development since 2008. Mr. Stahl will remain with the Company to assist in the transition until his retirement on July 1, 2012.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Aqua America, Inc. | ||||
| May 11, 2012 | By: |
Christopher P. Luning
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| Name: Christopher P. Luning | ||||
| Title: Senior Vice President, General Counsel and Secretary | ||||
Exhibit Index
| Exhibit No. | Description | |
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9.01
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Exhibit 99.1 Press Release of Aqua America, Inc. dated May 10, 2012 |
FOR RELEASE: May 10, 2012
Contact: Donna Alston
Director, Communications
610.645.1095
dpalston@aquaamerica.com
Gretchen Toner
Manager, Strategic Communications
610.645.1175
gmtoner@aquaamerica.com
AQUA AMERICA APPOINTS NEW SENIOR VP AND GENERAL COUNSEL; AND VICE PRESIDENT, CORPORATE
DEVELOPMENT
BRYN MAWR, PA, May 10, 2012 – Aqua America, Inc.’s (NYSE: WTR) Board of Directors has appointed two company employees to officer positions. Christopher P. Luning was appointed senior vice president, general counsel and secretary, replacing Chief Administrative Officer, General Counsel and Secretary Roy Stahl who is retiring after a 30-year career with Aqua America during which he played a vital role in the divestiture of the company’s non-regulated non-utility businesses and its successful growth-through acquisition strategy, which allowed Aqua America to triple its customer base during his tenure. William B. Davis was appointed vice president, corporate development.
Luning, an accomplished attorney and 10-year veteran of Aqua America, will report directly to Chairman and CEO Nicholas DeBenedictis in his new role. He was previously vice president, corporate development, responsible for leading the company’s corporate development activities, which has resulted in the company tripling its customer base in the last 10 years. “His excellent legal skill coupled with the experience he has gained working as counsel and leading our corporate development efforts will serve him well as he begins his new position with the company, said Aqua America Chairman and CEO Nicholas DeBenedictis. “I look forward to working with him in his new role.”
Luning joined Aqua America in 2003 as assistant general counsel. He was promoted in 2005 to vice president and deputy general counsel. Throughout his tenure at Aqua America, Luning has worked closely with the corporate development team in negotiating and closing numerous acquisitions and other growth ventures.
Luning earned his B.S. business/political science from Albright College and his J.D. in 1993 from Villanova University.
Luning will be replaced by Davis who previously served as president of Aqua America’s New Jersey subsidiary, Aqua New Jersey. In his new role, Davis is responsible for leading the company’s corporate development activities with primary responsibility for pursuing acquisitions of municipal and private regulated water and wastewater companies as well as unregulated business opportunities.
Davis joined Aqua America in 2007 as controller of Aqua New Jersey. He was promoted in 2008 to president of Aqua New Jersey, the position he held at the time of his promotion. As president of Aqua New Jersey, Davis helped target potential acquisitions in that state and played a key role in the negotiations of successful deals. In addition to his experience with Aqua New Jersey, Davis has extensive previous experience in both buy- and sell- side transactions for a variety of capital intensive and natural resource businesses. “Bill’s previous M&A experience coupled with his operations experience will be invaluable as he begins his corporate development responsibilities,” said DeBenedictis.
Davis will head a corporate development team that includes in-depth involvement from each operating division president and corporate development managers in the company’s state operations as well as senior management in charge of non-regulated ventures. He will report directly to Aqua America Executive Vice President Karl Kyriss who is also president of a new business unit – Aqua Capital Ventures. “Our corporate development team has evolved over the past four years so our state operations have locally knowledgeable managers for corporate development. Also, each state president has responsibility to take an active role in growing the customer base in their state,” said DeBenedictis.
Davis earned his B.S. in marketing from Pennsylvania State University and his MBA in finance from The Wharton School at The University of Pennsylvania.
DeBenedictis said he looks forward to working with Luning and Davis as the company continues to pursue its growth-through-acquisition strategy. He commended Stahl on a stellar career with the company, which he said included many landmark events. “Roy is an excellent attorney whose legal talent has been crucial to myriad events at the company, not the least of which were the negotiation of the company’s largest merger with the former Consumers Water Company and the acquisition of the former AquaSource companies, which significantly increased our customer base and expanded our operations into several new states,” said DeBenedictis. “His contributions have been significant and he will be missed. The entire Board of Directors and I wish him well as he begins his retirement.”
Aqua America, Inc. is a U.S.-based publicly traded water and wastewater utility holding company, serving approximately three million residents in Pennsylvania, Ohio, North Carolina, Illinois, Texas, Florida, New Jersey, Indiana, Virginia, and Georgia. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR.
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