Middlesex Water Co., a provider of water and wastewater and related services in New Jersey, Delaware and Pennsylvania, was honored as a finalist in the Second Annual NYSE Governance, Risk & Compliance Leadership Awards at the New York Stock Exchange. Middlesex Water was recognized for Best Governance, Risk & Compliance Program at a Small to Mid-Cap Company.
The Leadership Awards recognize "outstanding companies and individuals who have demonstrated noteworthy efforts in the areas of governance, risk and compliance," and "underscore the role that corporate governance plays in dictating a company's success and a board's contribution to long term value," according to NYSE Governance Services.
"We're honored to be recognized for the hard work and great results delivered by our employees in the area of governance, risk and compliance. Providing safe drinking water and public health protection is a responsibility we take seriously that's reflected in our adherence to strict regulatory requirements, our governance structure, prudent investment in critical infrastructure assets, customer outreach and education and our commitment to maintaining a well-trained workforce," said Dennis Doll, president, CEO and chairman of Middlesex Water. "Sound governance, risk and compliance practices not only protect the health and welfare of our customers and employees but also, translate to improved current financial performance and avoided future costs. This results in positively impacting the risk/reward relationship that is so important to our shareholders who entrust us with their capital."
One of eight U.S. based publicly-traded water utilities, Middlesex Water has in recent years strategically expanded into new business markets including military base water and wastewater system privatization, turnkey renewable energy and industrial pre-treatment applications. "Regularly sharing this evolving business risk profile and strategic direction with shareholders is a further example of our commitment to transparency and sound governance," Doll said.
Source: Middlesex Water Co.