Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On December 6, 2019, Susan N. Story, President and Chief Executive Officer,
informed the Board of Directors (the "Board") of American Water Works Company,
Inc. (the "Company") of her decision to retire from the Company and to step down
as a member of the Board, effective April 1, 2020.
In accordance with the Board's existing succession plan for the Company's
principal executive officer position, on December 6, 2019, the Board appointed
Walter J. Lynch, Executive Vice President and Chief Operating Officer, to serve
as Ms. Story's successor effective April 1, 2020.
Mr. Lynch, 57, joined the Company in 2001. Mr. Lynch has served as Executive
Vice President and Chief Operating Officer since January 2016. Prior to that
time, he served as Chief Operating Officer of Regulated Operations from February
2010 to December 2015, and as President of Regulated Operations from July 2008
to December 2015.
Other than existing compensatory arrangements between Mr. Lynch and the Company
as described in the Company's 2019 Proxy Statement, in connection with his
succession: (i) there are no arrangements or understandings between Mr. Lynch
and any other person, (ii) no material plan, contract or arrangement has been
entered into with Mr. Lynch, and no such plan, contract or arrangement with
Mr. Lynch has been materially amended, and (iii) no grant of any award to
Mr. Lynch or modification of an existing award has been made. Moreover,
Mr. Lynch does not have any family relationship with any director or other
executive officer of the Company or any person nominated or chosen by the
Company to become a director or executive officer. Also, Mr. Lynch does not have
any direct or indirect material interest in any transaction that would require
reporting under Item 404(a) of Regulation S-K.
A copy of the press release issued by the Company on December 10, 2019 in
connection with the foregoing has been filed as Exhibit 99.1 to this Current
Report on Form 8-K and is incorporated by reference herein.
Item 7.01. Regulation FD Disclosure.
The presentation for the Company's 2019 Investor Day conference, to be held on
December 11, 2019 in New York, New York, is attached hereto as Exhibit 99.2 and
is incorporated by reference herein.
On December 10, 2019, the Company issued a press release announcing the
Company's earnings per share guidance for the 2020 fiscal year, providing
certain long-term financial guidance, and affirming its earnings per share
guidance range for the 2019 fiscal year. A copy of this press release is
attached hereto as Exhibit 99.3 and is incorporated by reference herein.
The information furnished in Item 7.01 of this Current Report, including
Exhibits 99.2 and 99.3, shall not be deemed to be "filed" for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), nor shall it be deemed to be incorporated by reference into any filing
under the Securities Act of 1933, as amended, or the Exchange Act, except as
shall be expressly set forth by specific reference in such filing.
Item 8.01. Other Events.
As part of the executive succession plan activities described above in response
to Item 5.02, on December 6, 2019, the Board appointed each of the following
persons to serve as an executive officer of the Company and to have the title or
titles set forth opposite each name, effective as of March 1, 2020:
Name Title(s)
Bruce A. Hauk President, Regulated Operations and Military Services Group
Kevin B. Kirwan Senior Vice President, Chief Operational Excellence and Safety
Officer
Cheryl D. Norton Senior Vice President, Chief Environmental Officer; and Senior Vice
President, Eastern Division
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Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits have been filed or furnished herewith, as noted below:
Exhibit Description
99.1* Press Release, dated December 10, 2019, issued by American Water
Works Company, Inc.
99.2** American Water Works Company, Inc. 2019 Investor Day Presentation
99.3** Press Release, dated December 10, 2019, issued by American Water
Works Company, Inc.
104 Cover Page Interactive Data File (the cover page XBRL tags are
included and formatted as Inline XBRL)
* Filed herewith.
** Furnished herewith.
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