8-KLeadership Changes

American Water Works Company, Inc. 8-K Report, Executive Changes (Sep 28, 2010)

Filed September 28, 2010For Securities:AWK

Summary

American Water Works Company, Inc. (AWK) filed an 8-K on September 28, 2010, reporting a significant event related to the departure of a key executive. On September 22, 2010, the Circuit Court of Jefferson County, Alabama, appointed John S. Young, Jr. LLC as the receiver to manage the county's sewer system. Notably, John S. Young, Jr. is the Chief Water Technology Officer of American Water Works and holds leadership positions within its service subsidiaries. This court appointment is expected to lead to Mr. Young's retirement from his roles with the company. The company has stated it will file an amendment to this 8-K to provide further details on the retirement date and any related compensation arrangements once they are finalized.

Key Highlights

  • 1John S. Young, Jr., Chief Water Technology Officer of American Water Works, has been appointed receiver for Jefferson County, Alabama's sewer system.
  • 2This court appointment is expected to result in Mr. Young's retirement from his positions at American Water Works and its subsidiaries.
  • 3The appointment was made by the Circuit Court of Jefferson County, Alabama.
  • 4American Water Works plans to file an amendment to this 8-K to disclose Mr. Young's retirement date.
  • 5The company will also disclose any material arrangements related to Mr. Young's departure in the amendment.

Frequently Asked Questions

This 8-K filing is primarily to report that John S. Young, Jr., a key executive at American Water Works, has been appointed as a receiver for the sewer system of Jefferson County, Alabama, which is expected to lead to his retirement from the company.

John S. Young, Jr. is currently the Chief Water Technology Officer of American Water Works Company, Inc., and also holds the titles of President of American Water Services and President of American Water Works Service Company.

The exact retirement date has not yet been determined. American Water Works has indicated that they will file an amendment to this 8-K to disclose the retirement date once it is finalized.

The company has stated that they will disclose any related material arrangements in an amendment to this 8-K, which would likely include details on severance or other compensation, if applicable. Investors should monitor for this subsequent filing.