American Water announced that CEO and President Walter Lynch has retired from the company, effective Wednesday. Susan Hardwick was appointed by the board of directors as CEO and president to replace Lynch.
The news of Lynch’s retirement comes just days after the Camden-based utility announced that Lynch was reinstalled as CEO after his recovery from a recent injury and hospitalization. Hardwick served as interim CEO during his absence.
“I have decided to retire from American Water. This is the best decision for my family and me,” Lynch said. “I am fortunate to have my health and such a wonderful family with whom I look forward to spending more time. As I move on, I will be wishing the company every success in the years ahead.”
“On behalf of the board of directors, we want to thank Walter for his service to American Water over his long tenure with the company,” said Karl Kurz, chairman of American Water’s board.
“The board and I are also pleased to name Susan Hardwick as American Water’s president and CEO, and we have full confidence that she will continue our record of strong industry leadership and financial performance,” Kurz added. “She is a proven leader with extensive utility experience and is deeply committed to customers, employee development and building better communities.”
Hardwick is currently serving as American Water’s chief financial officer and will continue to serve in that role until her replacement is named. A national search to fill the CFO role is underway. The board of directors also elected Hardwick to serve on the board.
“I want to say a special thanks to Walter for his time at American Water and wish him all the best,” Hardwick said. “I also look forward to continuing to lead the incredible employees of American Water. We’re a top leader in the utility sector and we will continue to deliver exceptional value to all of our stakeholders.”
Hardwick joined American Water in June 2019 and became CFO on July 1, 2019. In this role, she was responsible for all aspects of financial management and strategy, including directing finance strategy, investor relations, treasury, financial planning, accounting, internal audit, risk management, supply chain, regulatory services and control functions.
Prior to joining American Water, Hardwick served as executive vice president and CFO of Vectren Corp.