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Chesapeake Utilities Corporation Announces Officer Appointments

Stocks in this article: CPK

DOVER, Del., May 4, 2012 /PRNewswire/ -- Michael P. McMasters, President and Chief Executive Officer of Chesapeake Utilities Corporation (NYSE: CPK), announced that the Board of Directors appointed Matthew M. Kim to Vice President of the Company at their meeting Wednesday. In addition, Thomas E. Mahn has been appointed Treasurer of the Company; and William D. Hancock has been appointed as Assistant Vice President of Peninsula Energy Services Company, Inc.  These appointments are effective immediately.

"The appointments of these individuals reflect the Board and senior management's commitment to sustain a strong and dynamic management team," said Mr. McMasters. "Today's promotions are the result of our appreciation for the contributions these individuals have made to our Company, the success they have achieved, the respect they've earned from peers and customers, and our confidence in their continued success and future contributions."  

Mr. Kim's appointment to Vice President of the Company reflects the expertise and contributions that he has made since joining Chesapeake in 2009. "Beginning with the merger with Florida Public Utilities Company (FPU), Matt has successfully led the Company through several different accounting integrations and was instrumental in working with our Florida team in securing approval of the recovery of the FPU acquisition adjustment and merger-related costs," noted Beth W. Cooper, Senior Vice President and Chief Financial Officer. "Matt's technical expertise and natural leadership abilities complement his enthusiasm for the Company and provide the foundation for his continued success," Ms. Cooper added. 

Mr. Kim joined Chesapeake in March 2009 as Controller overseeing all business unit accounting and financial reporting processes within the Company. He was appointed to Assistant Vice President in June 2010. He has responsibility for the development, communication and implementation of accounting and tax policies, practices and procedures within the Company. Prior to joining the Company, Mr. Kim was a Vice President and Assistant Controller for The Carlyle Group, a global private equity firm based in Washington, D.C., where he managed the U.S. corporate accounting team responsible for maintaining approximately 50 ledgers. Prior to joining The Carlyle Group, Mr. Kim was employed by PricewaterhouseCoopers, LLP, where he held the position of Senior Manager.

Mr. Mahn, who recently joined the Company as Director of Finance, will assume the responsibilities of Treasurer. "Tom's long history with Perdue Incorporated has given him the experience and expertise needed to oversee the treasury functions of the Company," said Mr. McMasters. "Tom's a natural fit for the organization and we're delighted to have him on board as a key member of the finance organization," added Ms. Cooper.

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