American Water Announces Appointment of Donald L. Correll as President and CEO
American Water, the largest and most geographically diversified provider of water services in North America, announced the appointment of Donald L. Correll as president and CEO, effective April 17, 2006. 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 and CEO of Pennichuck Corp., located in Merrimack, N.H. 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, N.J., 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 one million in two states to 7.5 million in 19 states.
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 des Eaux.
Correll serves on the boards of a variety of civic, professional and business organizations, including the Environmental Financial Advisory Board of the U.S. EPA 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 Corp., 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 also is a certified public accountant in New York.
Roels noted his appreciation for George MacKenzie's contributions over the past few months. “Mr. MacKenzie has provided solid leadership 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.”