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PHOENIX, Aug. 30, 2018 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS), (TSX: GWR), a pure-play water resource management company, has appointed Timothy J. Sabo to the new position of regulatory counsel and promoted Heather Krupa to controller.
“These appointments reflect the continuing development of our management team to ensure we remain at the forefront of our industry while successfully executing our declared growth strategy, including water utility acquisitions and ongoing high organic growth,” said Ron Fleming, Global Water CEO. “Given Tim’s deep knowledge and leadership in the industry, and especially his extensive experience with Arizona Corporation Commission and successful legal representations of public utilities, we’re now in a stronger position to accelerate and optimize all related growth activities. Additionally, this appointment is not expected to add material expenses as Global Water utilized Tim for significant hours through his prior firm.”
Fleming continued: “Heather has done an excellent job as our director of financial reporting and interim controller. Over the past six months, Heather has taken over the responsibilities of the controller position, where she has proven her ability to succeed in this position. Heather’s responsibilities as controller will be essential as we progress SOX compliance, evaluate all growth opportunities, and work to integrate new utilities onto our platform.”
Timothy J. Sabo Bio
Sabo brings to Global Water more than 16 years of experience in successfully representing water and wastewater utilities with their legal and regulatory affairs, including regular appearances before the Arizona Corporation Commission (ACC) involving utility rate cases, rulemakings and certificate applications. Sabo has a long relationship with Global Water, having served as their outside regulatory counsel since 2005.
Sabo previously served as an attorney at Snell & Wilmer in Arizona, where he led a number of high-profile cases and other utility matters. He served as a lead attorney for the water utility industry in the ACC 2016 water policy workshops, which resulted in the development of new water policies.
Before Snell & Wilmer, he was an attorney at Roshka, DeWulf & Patten, where he represented water, electric, gas and telecommunications utilities in proceedings before the ACC, as well as in complex federal litigation, state litigation and arbitration matters.
Earlier, Sabo served as an attorney for the ACC, where he represented the regulatory agency in appeals, federal and state court litigation, proceedings before the FCC and FERC. He also represented the ACC Staff in numerous rate cases and other proceedings before the ACC.
Sabo holds a bachelor’s degree from the University of Wisconsin-Madison and a juris doctor, cum laude, from Arizona State University College of Law.
Heather Krupa Bio
Prior to her appointment as Global Water’s controller, Krupa has served as the company’s director of financial reporting and as interim controller since April 2018. She brings to the position more than 12 years of accounting experience. She began her career as an auditor with Ernst & Young LLP in Chicago, Illinois, with a focus on the oil and gas industry and experience in mergers and divestitures.
After Ernst & Young, she has served a number of publicly-traded companies in various accounting and financial reporting roles, including as senior financial analyst and financial reporting manager. This includes Exelon Corporation, where she assisted in the financial reporting of a $7.4 billion utility merger, and Florist Transworld Delivery, where she assisted with a $500 million merger.
Krupa holds a Bachelor of Science in accounting from DePaul University. She is a certified public accountant, licensed in Illinois, and a member of the American Institute of Certified Public Accountants.
About Global Water Resources
Global Water Resources, Inc. is a leading water resource management company that owns and operates 10 utility companies which provide water, wastewater, and recycled water services. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix. Global Water recycles nearly 1 billion gallons of water annually. To learn more, visit www.gwresources.com.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain forward-looking statements which reflect the company's expectations regarding future events. The forward-looking statements involve a number of assumptions, risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning, future net income growth, our strategy, acquisition plans, our dividend policy, trends relating to population growth, active connections, regulated revenue, housing permit projections, expected effect due to tax reform, and other statements that are not historical facts as well as statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", or the negative of these terms, or other words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to a number of risks, uncertainties, and assumptions, most of which are difficult to predict and many of which are beyond our control. Actual results may differ materially from these expectations due to changes in political, economic, business, market, regulatory, and other factors. Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements, which reflect management’s views as of the date hereof. Factors that may affect future results are disclosed under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our filings with the Securities and Exchange Commission (the "SEC"), which are available at the SEC's website at www.sec.gov. This includes, but is not limited to, our Annual Report on Form 10-K for the year ended December 31, 2017 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2018 which were filed with the SEC. We undertake no obligation to publicly update any forward-looking statement, except as required by law, whether as a result of new information, future developments or otherwise.
Michael J. Liebman
SVP and CFO
Tel (480) 999-5104
Ron Both, CMA
Tel (949) 432-7566