California Water Service Group and Subsidiary California Water Service Company Announces New Officer
SAN JOSE, Calif., Dec. 03, 2019 (GLOBE NEWSWIRE) -- California Water Service Group (Group) (NYSE: CWT) and its subsidiary California Water Service Company (Cal Water) today announced the appointment of Todd Peters from Chief Engineer to Chief Engineering Officer for Cal Water, effective January 1, 2020.
Since joining the company in 1993, Peters has held increasingly responsible positions, including Manager of Distribution, Manager of Design, and Hawaii Transition Manager, in which he led the team responsible for forming the company’s Hawaii subsidiary and integrating the newly acquired Ka’anapali Water Company.
Under his leadership as Chief Engineer, between 2005 and 2018, the company’s annual infrastructure investment grew from $90.7 million to $271.7 million, and its Net Utility Plant grew from $862.7 million to $2.2 billion.
Peters holds a Bachelor of Science Degree in Civil Engineering from San Jose State University and is certified a Professional Engineer in Civil Engineering by the State of California. He also holds a Grade 4 Certification in Water Treatment and a Grade 3 Certification in Water Distribution.
“Todd has been a major contributor to our success, and this promotion is very well deserved. I look forward to working with him in his capacity as the newest member of our officer team,” said President and Chief Executive Officer Martin A. Kropelnicki.
About California Water Service Group
California Water Service Group is the parent company of California Water Service, Washington Water Service, New Mexico Water Service, Hawaii Water Service, CWS Utility Services, and HWS Utility Services. Together, these companies provide regulated and non-regulated water service to nearly 2 million people in California, Washington, New Mexico, and Hawaii. California Water Service Group’s common stock trades on the New York Stock Exchange under the symbol “CWT.” Additional information is available online at www.calwatergroup.com.
This news release contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 (“Act”). The forward-looking statements are intended to qualify under provisions of the federal securities laws for “safe harbor” treatment established by the Act. Forward-looking statements are based on currently available information, expectations, estimates, assumptions and projections, and management's judgment about the Company, the water utility industry and general economic conditions. Such words as would, expects, intends, plans, believes, estimates, assumes, anticipates, projects, predicts, forecasts or variations of such words or similar expressions are intended to identify forward-looking statements. The forward-looking statements are not guarantees of future performance. They are subject to uncertainty and changes in circumstances. Actual results may vary materially from what is contained in a forward-looking statement. Factors that may cause results to be different than expected or anticipated include, but are not limited to: ability to invest or apply the proceeds from the issuance of common stock in an accretive manner; governmental and regulatory commissions' decisions, including decisions on proper disposition of property; consequences of eminent domain actions relating to our water systems; changes in regulatory commissions' policies and procedures; the timeliness of regulatory commissions' actions concerning rate relief and other actions; increased risk of inverse condemnation losses as a result of climate conditions; inability to renew leases to operate water systems owned by others on beneficial terms; changes in California State Water Resources Control Board water quality requirements; changes in environmental compliance and water quality standards; electric power interruptions, especially as a result of Public Safety Power Shutoff programs for the 2019 fire season as we further develop approaches to manage that risk; housing and customer growth trends; the impact of opposition to rate increases; our ability to recover costs; availability of water supplies; issues with the implementation, maintenance or security of our information technology systems; civil disturbances or terrorist threats or acts; the adequacy of our efforts to mitigate physical and cyber security risks and threats; the ability of our enterprise risk management processes to identify or address risks adequately; labor relations matters as we negotiate with unions; changes in customer water use patterns and the effects of conservation; the impact of weather, climate, natural disasters, and diseases on water quality, water availability, water sales and operating results, and the adequacy of our emergency preparedness; and, other risks and unforeseen events. When considering forward-looking statements, you should keep in mind the cautionary statements included in this paragraph, as well as the annual 10-K, Quarterly 10-Q, and other reports filed from time-to-time with the Securities and Exchange Commission (SEC). The Company assumes no obligation to provide public updates of forward-looking statements.
Released December 3, 2019