H2O America Announces Board Leadership Transition

Rhea-AI Summary

H2O America (HTO) announced a board leadership transition: Eric W. Thornburg will retire as non-executive chair effective Jan. 31, 2026. Thornburg previously served as chair, president, and CEO and earlier this year retired from the CEO and president roles after eight years as CEO and over 40 years in the drinking water profession. The board thanked him for his service.

Effective Feb. 1, 2026, current CEO Andrew F. Walters was appointed chair of the board; the board said it is confident Walters will provide stability, transparency, and long-term focus on serving customers and communities.

Positive

• Smooth internal succession: CEO Andrew F. Walters named chair effective Feb. 1, 2026
• Continuity of leadership preserved by promoting existing CEO to chair
• Board endorsement signals confidence in current executive team

Negative

• Loss of long-tenured leader: Thornburg retires after over 40 years
• Leadership concentration risk: CEO also serving as board chair

SAN JOSE, Calif., Dec. 15, 2025 (GLOBE NEWSWIRE) -- H2O America today announced that Eric W. Thornburg will retire as non-executive chair of the board of directors, effective Jan. 31, 2026. Mr. Thornburg has served the company with distinction for many years, including as chair, president, and CEO, and most recently as non-executive chair of the board. His leadership has been instrumental in shaping H2O America’s mission and its commitment to delivering high-quality, reliable water service to communities across the region.

This transition follows Mr. Thornburg’s retirement from the CEO and president roles earlier this year, after eight years of servant leadership at H2O America and more than 40 years of service to the drinking water profession. The board of directors and the company express their deep gratitude for his steady guidance and continued support during this period of change.

Effective Feb. 1, 2026, the board of directors has appointed current CEO, Andrew F. Walters, as the new chair of the board. The board is confident that Mr. Walters will continue to lead H2O America with stability, transparency, and a long-term focus on serving customers and communities.

Quotes:

“It has been one of the greatest honors of my career to serve H2O America and work alongside such exceptional professionals. I am deeply grateful for everyone’s commitment to our mission and the communities we serve. As I step away from my role as chair, I have full confidence in our leadership bench, our dedicated people, and the bright future ahead for H2O America.”
— Eric W. Thornburg

“I am grateful for the opportunity to serve as chair alongside our board and talented team. Over the past several months, we have worked together to advance H2O America’s mission and deliver reliable, high-quality water service across our national footprint. Building on Eric’s legacy, I look forward to continuing to deepen our impact and help our customers and communities thrive for generations to come.”
— Andrew F. Walters

About H2O America

H2O America (NASDAQ: HTO) is a national investor-owned network of local water and wastewater utilities united by one purpose: delivering clean, high-quality water to the communities we call home.

For H2O America, providing water is more than a responsibility - it’s a privilege. Every connection we serve helps sustain what matters most: public health, vibrant neighborhoods, and a reliable future.

Across approximately 407,000 water and wastewater service connections, we invest in critical infrastructure to strengthen water supply for generations to come. We stay actively engaged in our local communities while focusing on operational excellence and delivering sustainable, long-term value to our investors.

Water is local - and so are our roots. Through our four regional water utilities - Connecticut Water, Maine Water, San Jose Water, and Texas Water - we proudly serve more than 1.6 million people across the country. Together, we protect what’s precious.

For more information, please visit our website at www.H2O-America.com.

Investor Relations:

Jonathan G. Reeder
Senior Director of Treasury & Investor Relations
(475) 414-1034
InvestorRelations@H2O-America.com

Media Relations:

Nazan Riahei
Vice President of Communications
(408) 731-0890
MediaRelations@H2O-America.com

FAQ

When will Eric W. Thornburg step down as H2O America (HTO) non-executive chair?

Eric W. Thornburg will retire as non-executive chair effective Jan. 31, 2026.

Who will become chair of H2O America (HTO) and when does the change take effect?

Current CEO Andrew F. Walters was appointed chair effective Feb. 1, 2026.

Did H2O America (HTO) promote an internal candidate to chair?

Yes. The company promoted its existing CEO, Andrew F. Walters, to chair.

How long did Eric W. Thornburg serve as CEO before retiring from that role?

Thornburg retired from the CEO and president roles earlier in 2025 after eight years as CEO.

Does the board express confidence in the new chair for H2O America (HTO)?

Yes. The board stated it is confident Walters will lead with stability, transparency, and a long-term focus.