Aug 17, 2010

American Water Names Jeff Sterba President and CEO

Sterba succeeds Donald Correll

American Water Works Co. Inc. has announced that Jeffry Sterba has been appointed president and CEO and elected to the board of directors. Sterba is succeeding Donald Correll, who is leaving the company.

“The past four and a half years as president and CEO of American Water have been deeply rewarding,” Correll said. “Our team has accomplished a turnaround of the company, successfully concluded the largest utility IPO in U.S. history and re-established the American Water brand. We have built a solid foundation, generated strong revenue and earnings growth and achieved significant operating efficiencies. American Water is well positioned for continued success.”

“We are grateful to Don for his leadership and years of service,” said George MacKenzie, non-executive chairman of American Water. “His insights and collaboration with the board will help ensure a seamless management transition.

“The entire board is pleased to name Jeffry Sterba as president and CEO of American Water. Jeff is a seasoned utility industry executive who has the proven leadership ability and experience to uphold American Water’s position as the single largest enterprise protecting the nation’s public health standards and take the company to the next level of performance.”

“American Water has an opportunity to realize its full potential by enhancing its organizational focus on operations,” Sterba said. “I will conduct a full review over the next few months that will include a listening tour of internal and external stakeholders, examining the business structure and identifying opportunities for growth, and assessing American Water’s role in the national conversation about responsible water use and sustainability.”