8-KLeadership Changes

American Water Works Company, Inc. 8-K Report, Executive Changes (Jan 19, 2018)

Filed January 19, 2018For Securities:AWK

Summary

This 8-K filing from American Water Works Company, Inc. (AWK) reports a change in its Board of Directors. Paul J. Evanson, a board member and committee chair, resigned for personal reasons, with no stated disagreements with the company. The effective date of his resignation was January 17, 2018. In response to Mr. Evanson's departure, the Board appointed Chairman George MacKenzie to take over Mr. Evanson's roles as Chair of the Executive Development and Compensation Committee and as a member of the Finance and Risk Committee. This change in leadership within key board committees is a notable governance event for investors to be aware of.

Key Highlights

  • 1Paul J. Evanson, a director, resigned from the Board of Directors effective January 17, 2018.
  • 2Mr. Evanson's resignation was stated to be for personal reasons and not due to any disagreements with the company.
  • 3Mr. Evanson previously served as Chair of the Executive Development and Compensation Committee.
  • 4He was also a member of the Finance and Risk Committee.
  • 5George MacKenzie, the Chairman of the Board, has been appointed to succeed Mr. Evanson.
  • 6Mr. MacKenzie will now chair the Executive Development and Compensation Committee.
  • 7Mr. MacKenzie will also serve as a member of the Finance and Risk Committee.

Frequently Asked Questions

Mr. Evanson resigned for personal reasons. The filing explicitly states that his resignation was not a result of any disagreement with the Company regarding its policies, practices, or operations.

At the time of his resignation, Mr. Evanson was the Chair of the Executive Development and Compensation Committee and a member of the Finance and Risk Committee.

The Board appointed George MacKenzie, the Chairman of the Board, to take over Mr. Evanson's positions. Mr. MacKenzie is now the Chair of the Executive Development and Compensation Committee and a member of the Finance and Risk Committee.

Based on the filing, the resignation is stated to be for personal reasons and not due to any disputes with the company. The prompt and appointment of a successor suggests a routine governance process.