Aqua America, Inc. (NYSE: WTR) announced today that former member of the New Jersey Board of Public Utility Commissioners (BPU) Nicholas Asselta will join the company as president of its New Jersey subsidiary effective immediately, replacing William B. Davis who continued to manage his responsibilities as president after being promoted to vice president, corporate development in May 2012.
Asselta worked for more than 20 years as marketing and production manager for Times Graphic, Inc., a Gannett Company subsidiary before entering a career of public education and public service. He was elected to the Vineland Board of Education in 1993 and within two years (January 1995), was sworn into the General Assembly to fill an unexpired term, which led to the first of four subsequent terms representing New Jersey’s First District in the General Assembly. In 2003, he was elected to the New Jersey Senate where he served until 2008 when he became a BPU commissioner.
President and CEO of the New Jersey Utilities Association Andrew Hendry said, “We wish Mr. Asselta well with his new role. He will, no doubt, bring his long-standing commitment to environmental and corporate compliance to the next phase of his career.”
Aqua America’s Chairman and CEO Nicholas DeBenedictis said, “We value the expertise and unique set of skills he brings from his experience at the commission which will help us navigate the dynamic environment of compliance while growing our customer base in New Jersey as a leading water and wastewater utility.”Aqua America’s Chief Operating Officer, Regulated Operations Chris Franklin, to whom Asselta will report, said Mr. Asselta is looking forward to the distinct experience Asselta will bring to the company’s New Jersey operation. “Asselta has a unique mix of experience having served in both regulatory and legislative capacities,” said Franklin. “His constituent service experience coupled with the utility knowledge he has gained in his position as commissioner will serve the company and its customers very well.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV