Connecticut Water Service Inc. (CTWS) announced that its board of directors has appointed Richard H. Forde, retired senior vice president and chief investment officer of Cigna Corp., to its board of directors effective Oct. 4, 2013. The appointment increases the number of CTWS directors from eight to nine.
With his addition to the board, Forde will become a member of the board's Compensation, Corporate Finance and Investment, and Corporate Governance committees. Forde brings a wealth of financial and managerial experience to the CTWS board. Prior to his retirement in 2012, his career at Cigna spanned 35 years with the last 8 years as senior vice president and chief investment officer. He was responsible for the performance of more than $23 billion in corporate portfolio and defined pension plan assets and oversaw Cigna Corporation's 401(k) plan.
Eric W. Thornburg, CTWS chairman, said: "Richard's experience with financial markets, defined benefit plan portfolios and 401(k) plans will augment our board's knowledge as we continue our strategy of growing our business through prudent acquisitions, infrastructure investment and providing world-class service to our customers."
Forde received a B.A. in economics at Bates College, before receiving an MBA in finance, accounting & management policy from Northwestern University. He currently serves on the board of trustees of Bates College.
Source: Connecticut Water Service