H2O America appoints Megan Mattern as chief accounting officer effective July 28

H2O America (NASDAQ:HTO), a water utility company with a market capitalization of $1.81 billion and annual revenue of $767 million, announced Tuesday the appointment of Megan Mattern as chief accounting officer, principal accounting officer, and controller, effective July 28. Mattern will also assume the role of chief accounting officer at San Jose Water Company and several other subsidiaries on the same date. According to InvestingPro analysis, the company maintains a Fair financial health rating, with several promising indicators among its extensive set of metrics.

The company stated that Mattern will replace Ann P. Kelly, who will become chief financial officer and treasurer on July 1. The announcement was made in a press release and detailed in a filing with the Securities and Exchange Commission.

Mattern, age 44, most recently served as vice president and chief financial officer of UGI (NYSE:UGI) International, a subsidiary of UGI Corporation, from August 2022 to July 2, 2025. She previously held roles of increasing responsibility at UGI and its subsidiaries from 2016 to 2025, and at PPL Corporation (NYSE:PPL) from 2004 to 2016. She holds an M.B.A. from Wilkes University and a B.A. in accounting from King’s College, Pennsylvania.

The executive compensation committee approved an annual base salary of $425,000 for Mattern, with a target annual incentive cash compensation of 35% of base salary. She will also receive a one-time sign-on cash award of $200,000. The compensation package comes as H2O America maintains strong operational performance, with an EBITDA of $302 million and a P/E ratio of 17.3x. InvestingPro subscribers can access detailed analysis of the company’s valuation metrics and peer comparisons.

In addition, the committee approved restricted stock unit (RSU) awards comprising a one-time service-based RSU valued at $500,000, a one-time performance-based RSU valued at $175,000, and 2025 service- and performance-based RSUs valued at $114,750 and $76,500, respectively. All awards will be granted under the company’s 2023 Long-Term Incentive Plan.

This information is based on a press release statement and the company’s SEC filing.

In other recent news, H2O America has announced significant leadership changes, with Andrew F. Walters being appointed to the Board of Directors and set to become the next CEO following the retirement of Eric W. Thornburg. Walters, who has been instrumental in the company’s financial growth as CFO and treasurer since January 2022, will assume his new role on July 1, 2025. His previous experience includes leading roles at J.P. Morgan Asset Management and Citigroup (NYSE:C), which have contributed to his strategic influence at H2O America. Walters played a pivotal role in the acquisition of Connecticut Water Service, Inc. in 2019, aligning with the company’s growth strategy. The company, serving approximately 1.6 million people across four states, emphasizes operational excellence and sustainable value delivery to investors. Walters aims to focus on stakeholder relationships, growth, and capital expenditure plans. This leadership transition is part of H2O America’s ongoing commitment to advancing public health and safety through high-quality water services. The company’s forward-looking statements highlight potential risks and uncertainties, including regulatory actions and environmental conditions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.