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Artesian Resources Corp (NASDAQ:ARTNA), a Delaware-based water supply company with a market capitalization of $332 million, has officially appointed Nicholle R. Taylor as its Chief Executive Officer and President, as of February 22, 2025. Taylor, who has been a part of the company since 1991, had been serving as the interim CEO and President since January 3, 2025. According to InvestingPro data, the company maintains a strong financial health score and has raised its dividend for 32 consecutive years, demonstrating consistent shareholder returns.
Taylor, 57, has a longstanding history with the company, having been a member of the Board since 2007 and holding various management and operational roles over the years. Before her interim appointment, she served as Senior Vice President of Artesian Resources and its subsidiaries since May 2012 and took on the role of President of Artesian Water Company in August 2021. Under the company’s leadership, Artesian has maintained a healthy 6.25% revenue growth and currently offers investors a 3.73% dividend yield.
The announcement follows the departure of Dian C. Taylor from the roles of CEO and President on February 22, 2025. Details regarding any additional compensation for Nicholle R. Taylor in her new permanent roles will be determined by the Board at a later date. It is noted that Nicholle R. Taylor is related to former CEO Dian C. Taylor, being her niece, and is also the cousin of John R. Eisenbrey, Jr.
The company’s filing with the SEC states that there was no specific arrangement or understanding with any other person that led to Taylor’s appointment. Furthermore, there are no disclosed transactions involving Taylor that would require additional disclosure under the SEC’s regulations.
This leadership change comes at a time when Artesian Resources continues to navigate the water supply industry, with Nicholle R. Taylor’s extensive experience within the company expected to guide its future direction. The company’s strong liquidity position and reasonable P/E ratio of 16.48 suggest a solid foundation for future growth. InvestingPro analysis reveals several additional positive indicators for investors looking to evaluate the company’s prospects. The information regarding this executive transition is based on a press release statement from Artesian Resources Corp.
In other recent news, Artesian Resources Corporation has announced significant leadership changes and board member developments. Dian C. Taylor, who has served as the Chief Executive Officer, President, and Chair of the Board, has taken a paid leave from her executive roles. Nicholle R. Taylor has been appointed as the interim CEO and President, while also continuing her role as Senior Vice President. Nicholle has been with the company since 1991 and has served on the Board since 2007. In another development, Kenneth R. Biederman has decided to resign from his position as a director of the company, effective May 6, 2025. His resignation is noted as a personal decision and not due to disagreements with the company’s operations or policies. The company has not yet disclosed plans for filling the vacancy left by Biederman. These updates were disclosed in recent company statements and filings.
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