Aqua America, Inc. (NYSE:WTR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 29, 2017, the Board of Directors (the Board) of Aqua America, Inc. (the Company) elected Daniel J. Hilferty, president and chief executive officer of Independence Health Group (IHG), as a director.
Mr. Hilferty has been the president and CEO at IHG, based in Philadelphia, since December 2010. At IHG, Mr. Hilferty leads the $16 billion health insurer serving 8.5 million people in 25 states. From December 2009 until December 2010, Mr. Hilferty served as IHGs health markets president, with responsibility for sales, marketing and subsidiary operations. From 1996 to 2009, he served as president and CEO for the AmeriHealth Caritas Family of Companies. Mr. Hilferty serves on a variety of corporate and non-profit boards including appointments to the Greater Philadelphia Chamber of Commerce, FS Investment Corporation III, and the Executive Committee of the Board of Directors of Americas Health Insurance Plans. Mr. Hilferty also serves as the Chairman of the Board of Directors for the Blue Cross Blue Shield Association. He holds a Bachelor of Science in Accounting from Saint Josephs College (now Saint Josephs University) and a Master of Public Administration from The American University.
The Board has determined that Mr. Hilferty is independent in accordance with the Companys corporate governance guidelines and applicable NYSE and SEC requirements. The Board reviewed, as part of its independence determination, information that IHG serves as the administrator for the Companys self-insured health plans for the employees of the Company and its subsidiaries. Mr. Hilferty has been appointed to Executive Compensation Committee and the Corporate Governance Committee of the Board.
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About Aqua America, Inc. (NYSE:WTR)
Aqua America, Inc. is a holding company. The Company, through its subsidiaries, provides water or wastewater services in Pennsylvania, New Jersey, Indiana and Virginia, among others. It is the holding company for its subsidiary, Aqua Pennsylvania, Inc. Its market-based activities are conducted through Aqua Resources Inc. and Aqua Infrastructure, LLC. Aqua Resources Inc. provides water and wastewater service through operating and maintenance contracts with municipal authorities and other parties in close proximity to its utility companies’ service territories; offers, through a third party, water and wastewater line repair service and protection solutions to households; inspects, cleans and repairs storm and sanitary wastewater lines; designs and builds water and wastewater systems, and provides other market-based water and wastewater services. Its subsidiary, Aqua Infrastructure LLC, provides non-utility raw water supply services for firms in the natural gas drilling industry.