Exhibit 99.1
![LOGO](https://capedge.com/proxy/8-K/0001193125-19-310224/g832900dsp1c.jpg)
American Water CEO Susan Story Announces Retirement for April 1, 2020
COO Walter Lynch to succeed Story
CAMDEN, N.J., Dec. 10, 2019 – American Water (NYSE: AWK), the largest publicly traded U.S. water and wastewater utility company, reported today that Susan Story has announced that she will retire April 1, 2020 as president and CEO of American Water. She will be succeeded by Walter Lynch, currently Chief Operating Officer of American Water.
“Being CEO of this great company has been a dream come true for me this past six years,” Story said. “We know that what we do, delivering the critical health need of clean and safe water and water services, is truly a noble calling, and not just a job. Most importantly, I get the privilege and honor of working with incredibly talented and dedicatedco-workers—my heroes—every day.
“After 38 years of working in the utility business, I can honestly say that I have enjoyed every part of this journey—and completing it at American Water in a few months will be a perfect way to finish. After April 1, I look forward to continuing to participate in business through my board work, spending more time with my family, and becoming more involved in charitable efforts that are very dear to me such as education initiatives for young people in economically distressed communities.”
Lynch, who will assume the president and CEO role on April 1 following Story’s retirement, has been a critical part of American Water’s success, starting his career with the company in 2001. He has served as COO since 2008 with responsibility for a large part of the company.
“Susan shared at her first board meeting as CEO in 2014 that she believed we should immediately address succession planning,” said Karl Kurz, chairman of the American Water Board of Directors. “Of course, as a board we knew this was critical, and we appreciate that she has so openly supported these efforts with the board throughout her tenure.
“She has too many accomplishments to list, but I would note that American Water became the first and continues to be the only water utility to become part of the S&P 500, the Dow Jones Utility Average, and the Philadelphia Utilities Index during her CEO tenure. Additionally, our five-year total shareholder return through the 3rd quarter of this year is 186% compared to 67% for the S&P 500, and our dividend growth CAGR over the past five years is 10.4%. And she did it while always living up to the company’s strong values.