8-K/ALeadership Changes

American Water Works Company, Inc. 8-K/A Report, Executive Changes (Nov 22, 2010)

Filed November 22, 2010For Securities:AWK

Summary

This amended Form 8-K filing from American Water Works Company, Inc. (AWK) updates a previous report concerning the retirement of John S. Young. While Mr. Young's intention to retire was previously announced, this filing confirms his resignation from key executive positions, including Chief Water Technology Officer and President of various subsidiaries, effective November 19, 2010. Investors should note that Mr. Young will continue as an employee of the company through January 1, 2011. The company also states its intention to file a further amendment to disclose any material retirement arrangements for Mr. Young once they are determined. This ongoing process indicates that the full financial implications of his departure are still being finalized.

Key Highlights

  • 1John S. Young has resigned from his officer and director roles within American Water Works Company, Inc. and its subsidiaries, effective November 19, 2010.
  • 2Mr. Young's roles included Chief Water Technology Officer and President of American Water Services and American Water Works Service Company.
  • 3Mr. Young will remain an employee of the company in a non-officer capacity until January 1, 2011.
  • 4This filing is an amendment to a previous 8-K report filed on September 28, 2010.
  • 5American Water Works Company intends to file another amendment to disclose any material retirement arrangements related to Mr. Young's departure.
  • 6The company is providing an update on executive transitions, which is a normal part of corporate governance.

Frequently Asked Questions

This amended 8-K filing confirms the resignation of John S. Young from his executive and director positions, providing updated details to a previously filed report. It also notes his continued employment in a non-officer role until January 1, 2011.

The company has stated that it will file a further amendment to disclose any material retirement arrangements related to Mr. Young's departure once they are determined. Investors should monitor for this future filing to understand any potential financial impact.

The filing does not specify the exact reasons for Mr. Young's continued employment through January 1, 2011, but it implies a transition period in a non-officer capacity. This is common during executive departures to ensure a smooth handover of responsibilities.