8-KLeadership ChangesExhibits & Filings

American Water Works Company, Inc. 8-K Report, Executive Changes (Dec 8, 2021)

Filed December 8, 2021For Securities:AWK

Summary

American Water Works Company, Inc. (AWK) has announced a leadership change due to the hospitalization and recovery of its President and CEO, Walter J. Lynch. The Board of Directors has appointed M. Susan Hardwick, Executive Vice President and Chief Financial Officer, as Interim Chief Executive Officer, effective December 7, 2021. Ms. Hardwick will also continue in her role as principal financial officer, assuming Mr. Lynch's duties until he is able to return. This decision was made in accordance with the company's business continuity plan. Investors should note that Mr. Lynch remains a member of the Board and an executive officer, indicating an expectation for his eventual return to full duties. Ms. Hardwick's appointment does not involve an immediate change to her compensation. This transition is a testament to the company's preparedness for unforeseen circumstances and ensures operational continuity during Mr. Lynch's temporary absence.

Key Highlights

  • 1Walter J. Lynch, President and CEO, is hospitalized and recovering from an injury.
  • 2M. Susan Hardwick, EVP and CFO, appointed Interim CEO, effective December 7, 2021.
  • 3Ms. Hardwick will also continue as principal financial officer.
  • 4The appointment is part of the company's business continuity plan.
  • 5Mr. Lynch remains a Board member and executive officer.
  • 6No immediate compensation change for Ms. Hardwick due to this appointment.

Frequently Asked Questions

The interim CEO, M. Susan Hardwick, was appointed because the current President and CEO, Walter J. Lynch, is hospitalized and recovering from an injury.

Ms. Hardwick will assume the authority, duties, and responsibilities of the CEO in addition to her existing role as Executive Vice President and Chief Financial Officer. She will serve as both the principal executive and principal financial officer until Mr. Lynch returns.

Ms. Hardwick's appointment is temporary, and she will serve as Interim CEO until such time as Mr. Lynch is able to reassume his responsibilities.

No, Mr. Lynch remains a member of the Board of Directors and an executive officer of the company. His current absence is due to hospitalization and recovery.