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SAN JOSE, Calif. - SJW Group (NASDAQ: SJW), a leading investor-owned water and wastewater utility with a market capitalization of $1.73 billion and an impressive track record of 54 consecutive years of dividend payments, announced a series of executive leadership transitions to take effect on July 1, 2025. According to InvestingPro analysis, the company maintains a FAIR financial health score, reflecting its stable position in the utility sector. Eric W. Thornburg, the current Chief Executive Officer and President, will retire on June 30, 2025, after more than four decades in the water industry. Thornburg will continue to serve as the non-executive Chair of the Board.
Andrew F. Walters, currently the Chief Financial Officer and Treasurer, will succeed Thornburg as CEO. Bruce A. Hauk, the current Chief Operating Officer, will assume the role of President. Additionally, Kristen A. Johnson, Senior Vice President and Chief Administrative Officer, will become President of the newly formed Shared Services organization. These appointments are part of the company’s strategic direction and growth planning.
Thornburg’s tenure as CEO has been marked by significant growth, including the expansion of SJW Group’s operations from two to four states and the quadrupling of water and wastewater connections in Texas since 2006. The company has demonstrated strong financial performance with revenue growth of 7.69% over the last twelve months and has maintained its commitment to shareholder returns by raising its dividend for 32 consecutive years. InvestingPro subscribers can access detailed analysis and 6 additional key insights about SJW Group’s performance and outlook. He has been credited with fostering a national leadership team that supports the company’s local utilities and enhances service for 1.6 million customers.
Walters, with nearly 25 years of utility sector experience, will focus on investing in infrastructure, enhancing operational efficiencies, and advancing sustainability, while prioritizing affordability and service excellence. His prior experience includes managing infrastructure funds and investment banking.
Hauk and Johnson’s promotions reflect their decades of experience in the water utility sector and their contributions to the company’s success.
SJW Group will name a new CFO and Treasurer to succeed Walters, with further details to be announced.
The information contained in this article is based on a press release statement, providing an overview of the upcoming leadership changes at SJW Group. For investors seeking comprehensive analysis, InvestingPro offers a detailed research report on SJW Group, one of over 1,400 US stocks covered by their expert analysis platform, providing crucial insights for informed investment decisions.
In other recent news, SJW Group has announced a 5% increase in its quarterly cash dividend, raising it to $0.42 per share. This adjustment elevates the annualized dividend to $1.68 per share, marking an increase from the previous year’s $1.60. The company has a long history of consistent dividend payments, with over 80 consecutive years of payouts and annual increases for the past 57 years. Additionally, BofA Securities analyst Ross Fowler has upgraded SJW Corp (NYSE:SJW).’s stock rating from Neutral to Buy, while adjusting the price target to $55 from $59. Fowler’s analysis is based on SJW’s projected long-term earnings per share growth rate of 5%-7%, which is seen as conservative yet achievable. Despite a negative regulatory exposure in Connecticut, the analyst maintains confidence in SJW’s financial stability, citing a strong balance sheet and a resilient financial structure. SJW’s focus on delivering shareholder value and maintaining a robust financial position is evident in these recent developments.
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