SJW Group Appoints Thomas A. Hodge as Vice President of Business Development and President of Texas Water Operation Services, LLC

Hodge will be responsible for business development. In this role, he will lead the company’s acquisition and growth initiatives, building on SJW’s strong record of acquisitions with over 60% customer growth and nearly doubling of utility plant in the past five years.

Eric W. Thornburg, chair, president and CEO of SJW Group, stated, “Over his 21-year career at SJW and Texas Water, Tom has built a strong record of successful acquisitions and business development. As president of Texas Water, Tom has been a catalyst for our growth in Texas, quadrupling our service connections since 2007 through prudent acquisitions and organic growth. He is an accomplished leader who models our values of service while building relationships, successfully integrating acquisitions and driving results. We are eager for him to lead our business development initiatives across our national footprint.”

SJW will be launching a nationwide search for an individual to lead the regulated operations of TWC. The company serves more than 26,000 water connections and 900 wastewater connections between Austin and San Antonio, Texas, a region that includes three of the five fastest-growing counties in the United States, according to the U.S. Census Bureau.

Texas Water Operation Services, LLC is a nonregulated subsidiary of SJW in Texas that was formed to provide water and wastewater-related services and contract operations.

Both Hodge and his successor as president of TWC will report to Bruce A. Hauk, chief operating officer of SJW. Hodge will continue to serve as president of TWC until a successor is appointed. He will continue to be based in Texas and will be a resource for the future president of TWC to ensure a seamless transition.

Hodge has a B.S. in civil engineering from Carnegie-Mellon University and an M.S. in water resources engineering from Stanford University, and is a licensed professional civil engineer in California and Texas. He is a founding board member and current treasurer of the Texas Association of Water Companies, an affiliate of the National Association of Water Companies, and a past chair of the Canyon Lake Chamber of Commerce.

About SJW Group

SJW Group is among the largest investor-owned pure-play water and wastewater utilities in the United States, providing life-sustaining and high-quality water service to about 1.5 million people. SJW Group’s locally led and operated water utilities - San Jose Water Company in California, The Connecticut Water Company in Connecticut, The Maine Water Company in Maine, and SJWTX, Inc. (dba Canyon Lake Water Service Company) in Texas - possess the financial strength, operational expertise, and technological innovation to safeguard the environment, deliver outstanding service to customers, and provide opportunities to employees. SJW Group remains focused on investing in its operations, remaining actively engaged in its local communities, and delivering continued sustainable value to its shareholders. For more information about SJW Group, please visit www.sjwgroup.com.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Some of these forward-looking statements can be identified by the use of forward-looking words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” “projects,” “strategy,” or “anticipates,” or the negative of those words or other comparable terminology. These forward looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict. These forward-looking statements involve a number of risks, uncertainties and assumptions including, but not limited to, the following factors: (1) the effect of water, utility, environmental and other governmental policies and regulations, including actions concerning rates, authorized return on equity, authorized capital structures, capital expenditures and other decisions; (2) changes in demand for water and other services; (3) the impact of the Coronavirus (“COVID-19”) pandemic on our business operations and financial results; (4) unanticipated weather conditions and changes in seasonality including those affecting water supply and customer usage; (5) climate change and the effects thereof, including but not limited to, droughts and wildfires; (6) unexpected costs, charges or expenses; (7) our ability to successfully evaluate investments in new business and growth initiatives; (8) contamination of our water supplies and damage or failure of our water equipment and infrastructure; (9) the risk of work stoppages, strikes and other labor-related actions; (10) catastrophic events such as fires, earthquakes, explosions, floods, ice storms, tornadoes, hurricanes, terrorist acts, physical attacks, cyber-attacks, epidemic, or similar occurrences; (11) changes in general economic, political, business and financial market conditions; (12) the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, changes in interest rates, compliance with regulatory requirements, compliance with the terms and conditions of our outstanding indebtedness, and general market and economic conditions; and (13) legislative and general market and economic developments. The risks, uncertainties and other factors may cause the actual results, performance or achievements of SJW Group to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Results for a quarter are not indicative of results for a full year due to seasonality and other factors. Other factors that may cause actual results, performance or achievements to materially differ are described in SJW Group’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC. Forward-looking statements are not guarantees of performance, and speak only as of the date made. SJW Group undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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    CONTACT: Willie Brown

Vice President, General Counsel & Corporate Secretary

408.315.8242

             Willie.Brown@sjwater.com

KEYWORD: CALIFORNIA TEXAS UNITED STATES NORTH AMERICA
    

INDUSTRY KEYWORD: ENERGY NATURAL RESOURCES UTILITIES OTHER NATURAL RESOURCES
    

SOURCE: SJW Group

Copyright Business Wire 2023.

PUB: 04/04/2023 04:00 PM/DISC: 04/04/2023 04:01 PM

http://www.businesswire.com/news/home/20230406005016/en