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David C. Benoit will assume the position effective April 1, 2014
The Board of Directors of Connecticut Water Service at its board meeting on March 12, 2014, unanimously approved the promotion of David C. Benoit to senior vice president, treasurer and CFO, effective April 1, 2014.
Benoit, who joined the company in 1996, had served as the vice president, treasurer and CFO.
Eric W. Thornburg, president and CEO of Connecticut Water, said, "David has provided us with outstanding leadership and financial expertise. He expertly leads the finance and accounting team, and honors and reflects the company's core values."
His recent work on the stock issuance in December 2012, the rate settlement to implement the repair tax accounting treatment, and the acquisitions of 32,000 customers between Maine Water and Biddeford and Saco Water Co. are examples of the successful efforts he has led.
Carol Wallace, dead director of the board, said, "Mr. Benoit's strategic thinking and financial acumen has delivered exceptional results for the company and our shareholders. Over the last three years, David has led us to the top tier of our peer group in total shareholder value added."