Microvast Holdings announces departure of chief financial officer
SAN JOSE, Calif. - SJW Group (NASDAQ: SJW), a prominent investor-owned water and wastewater utility with a market capitalization of $1.85 billion, has announced the appointment of Ann P. Kelly as the company’s new Chief Financial Officer and Treasurer, set to take effect on July 1, 2025. Kelly, who has been serving as Chief Accounting Officer since November 2024, is stepping into her new role following the retirement announcement of Eric W. Thornburg, the current Chair, President, and Chief Executive Officer. According to InvestingPro data, the company has demonstrated strong performance with a 12% year-to-date return, though current analysis suggests the stock is trading above its Fair Value.
Kelly brings extensive experience to the CFO position, having previously managed financial and accounting leadership roles at major utilities including American Electric Power (AEP) and AmeriGas Propane. Her responsibilities at SJW Group will encompass leading business planning, growth, and development, as well as overseeing core financial operations like treasury and investor relations. The company has maintained impressive financial metrics, with revenue growth of 11.65% over the last twelve months and a stable dividend yield of 3.07%. Andrew F. Walters, the present CFO and Treasurer, is slated to succeed Thornburg as CEO.
During her tenure at AEP, Kelly led a sizable team and was involved in accounting, tax, treasury and risk, corporate planning and budgeting, and investor relations. Prior to AEP, she held various finance roles at UGI Corporation, ultimately serving as Vice President of Finance and CFO at AmeriGas Propane, a UGI subsidiary. Her career began as a senior accountant at Price Waterhouse.
Kelly’s academic background includes a Bachelor of Arts in accounting from Ohio Wesleyan University and an MBA with a finance concentration from Villanova University. Her leadership at SJW Group has already been marked by a collaborative approach, integrity, and a clear sense of purpose, which according to Thornburg, will be instrumental in steering the company through its next growth phase.
SJW Group operates primarily through its subsidiaries, providing essential water services to approximately 1.6 million people. The company maintains a focus on investing in its operations, community engagement, and delivering sustainable value to its shareholders. InvestingPro analysis reveals that SJW has raised its dividend for 32 consecutive years, demonstrating strong commitment to shareholder returns. For deeper insights into SJW’s financial health and growth prospects, investors can access comprehensive Pro Research Reports covering 1,400+ top stocks on InvestingPro.
The information in this article is based on a press release statement from SJW Group.
In other recent news, SJW Corporation reported robust financial performance for the fourth quarter of 2024, significantly exceeding analysts’ expectations. The company achieved an earnings per share (EPS) of $0.74, surpassing the forecasted $0.55, and reported revenue of $197.82 million, higher than the anticipated $193.72 million. For the full year, SJW’s revenue reached $748.4 million, marking a 12% increase from the previous year, while GAAP net income rose by 11% to $94 million. In a separate development, S&P Global revised its outlook for SJW Group and its Connecticut subsidiaries to stable from negative, citing improved financial measures such as a consolidated funds from operations (FFO) to debt ratio of 12% in 2024. This improvement is attributed to rate increases in California and Connecticut and customer growth in Texas. S&P Global affirmed all ratings for SJW and its subsidiaries, maintaining an ’A-’ long-term issuer credit rating. Additionally, SJW Group announced a 25% increase in its five-year capital plan to $2 billion for 2025-2029, aiming to enhance water supply resilience and address environmental challenges. These recent developments highlight SJW’s strategic investments and financial stability.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.