Middlesex Water Company Appoints Tatyana Kaplan as Vice President and Chief Accounting Officer

Rhea-AI Summary

Middlesex Water Company (NASDAQ: MSEX) appointed Tatyana Kaplan as Vice President and Chief Accounting Officer, effective March 26, 2026. Kaplan joins from Veolia North America, where she led regulatory accounting across six jurisdictions and supported accounting and finance transformation.

Robert J. Capko leaves the Principal Accounting Officer role and will continue at the company as Corporate Controller, maintaining continuity in accounting leadership.

Positive

• Experienced hire: Tatyana Kaplan brings regulatory accounting leadership across six jurisdictions
• Continuity retained: Robert J. Capko remains as Corporate Controller to support transition

Negative

• Leadership change: Principal Accounting Officer role turnover may require a transition period

News Market Reaction – MSEX

-0.44%

-0.44% Session close to close

In the Mar 27 session, MSEX declined 0.44%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights a key leadership transition in Middlesex Water’s accounting function, w...

Analysis

This announcement highlights a key leadership transition in Middlesex Water’s accounting function, with a new Vice President and Chief Accounting Officer bringing regulated utility experience and rate case expertise. It follows recent milestones including a $14.5 million annual rate increase, PFAS-related customer credits of about $1.1 million, and a planned $506 million infrastructure program. Investors may watch how this leadership change supports financial reporting quality, regulatory strategy, and execution of capital investments over time.

Key Figures

Effective date: March 26, 2026 Regulated jurisdictions: 6 jurisdictions Degrees: B.S. Finance, M.S. Accounting

3 metrics

Effective date March 26, 2026 Start date for Vice President and Chief Accounting Officer role

Regulated jurisdictions 6 jurisdictions Scope of regulatory accounting led at Veolia North America

Degrees B.S. Finance, M.S. Accounting Academic background from NYU Stern School of Business

Historical Context

5 past events · Latest: Feb 27 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Feb 27	Customer bill credits	Positive	+1.0%	PFAS litigation proceeds used to fund about $1.1M in customer credits.
Feb 19	Earnings and rates	Positive	-0.6%	2025 earnings, large 2026–2028 capex plan, and NJ rate increase approval.
Feb 13	Earnings timing	Neutral	-0.6%	Announcement of date and posting plan for 2025 earnings and Form 10-K.
Jan 30	System acquisition	Positive	-0.8%	Tidewater Utilities completed Pinewood Acres system acquisition serving 360 customers.
Jan 27	Dividend declaration	Positive	-1.9%	Quarterly cash dividend of $0.36 per share continuing long dividend history.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent news skewed positive, but the stock more often moved slightly lower on those announcements.

Recent Company History

Over the past few months, Middlesex Water issued several notable updates. A February 2026 PFAS litigation settlement enabled approximately $1.1 million in customer bill credits. 2025 earnings showed net income of $42.8 million and diluted EPS of $2.36, alongside a planned $506 million infrastructure program for 2026–2028. The New Jersey regulator approved a rate increase adding $14.5 million in annual revenues. Additional items included a small Delaware system acquisition, an upcoming earnings date, and a quarterly dividend of $0.36 per share.

Key Terms

regulated utility, rate case, certified public accountant

3 terms

regulated utility technical

"distinguished background in regulated utility accounting and a proven ability"

A regulated utility is a company that provides essential public services—like electricity, water, natural gas, or public transit—whose prices and operating rules are set by government regulators. Because regulators limit how much the company can charge and how it can invest, these businesses tend to offer steady, predictable income and lower risk for investors, but usually slower growth, similar to renting space where the landlord must follow city rules on rent and upkeep.

rate case regulatory

"Her deep expertise in rate case strategy and commitment to operational"

A rate case is a formal process where a company, like a utility, asks regulators to approve higher or lower prices for its services. It matters because the decision affects how much consumers pay and how much the company can earn, impacting everyone's financial interests.

certified public accountant financial

"Mrs. Kaplan is a Certified Public Accountant. She attended Leonard"

A certified public accountant (CPA) is a licensed accounting professional who has passed rigorous exams and met education and experience requirements to prepare, review, and officially certify financial statements and tax filings. For investors, a CPA's involvement is like a neutral referee confirming that a company's reported numbers are accurate and follow accounting rules, which improves trust in financial reports and lowers the risk of unexpected errors or misleading information.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

ISELIN, N.J., March 26, 2026 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ: MSEX) has announced today that Mrs. Tatyana Kaplan joined the company as Vice President and Chief Accounting Officer, effective March 26, 2026.

“We are delighted to welcome Tatyana Kaplan to our executive leadership team as Vice President and Chief Accounting Officer,” stated Nadine Leslie, Chair, President and Chief Executive Officer of Middlesex Water Company “Tatyana brings a distinguished background in regulated utility accounting and a proven ability to navigate the unique financial complexities of our industry. Her deep expertise in rate case strategy and commitment to operational excellence will be instrumental as we continue to deliver value to our customers and shareholders."

Mrs. Kaplan was most recently the Director of Accounting for Veolia North America regulated utility business where she led the regulatory accounting and reporting across six different jurisdictions. In addition, she played a critical role in the development and execution of the accounting and finance transformation roadmap. Prior to joining Veolia, she was the Associate Manager at Prudential Financial, Inc. responsible for external financial reporting. Prior to joining Prudential Financial, Inc., she was a Senior Associate at PricewaterhouseCoopers LLP in the power and utilities sector.

Mrs. Kaplan is a Certified Public Accountant. She attended Leonard N. Stern School of Business at New York University, where she received a Bachelor of Science in Finance and a Master of Science in Accounting.

In addition, Middlesex Water Company announced the departure of Mr. Robert J. Capko from the Principal Accounting Officer position. Mr. Capko will remain an employee of the Company as the Corporate Controller.

About Middlesex Water Company

Middlesex Water Company (“Middlesex”) is one of the nation’s premier investor-owned water and wastewater utilities. Established in 1897, Middlesex is a trusted provider of life-sustaining services to more than half a million people in New Jersey and Delaware. The company focuses on employee engagement, operational excellence, superior customer experience, investment in infrastructure, and selective and sustainable growth to deliver value to our customers, investors, and the communities we serve.

Media Contact:
Summer DeFEO, Director of Communications
sdefeo@middlesexwater.com
(732) 638-7510

FAQ

Who is Tatyana Kaplan and what role did she take at Middlesex Water (MSEX) on March 26, 2026?

Tatyana Kaplan was named Vice President and Chief Accounting Officer, effective March 26, 2026. According to the company, she joins from Veolia North America, where she led regulatory accounting across six jurisdictions and supported accounting and finance transformation efforts.

What experience does Middlesex Water (MSEX) say Tatyana Kaplan brings to the Chief Accounting Officer role?

She brings regulated utility accounting experience and rate case strategy expertise. According to the company, Kaplan led regulatory accounting across six jurisdictions and helped develop accounting and finance transformation roadmaps.

What change occurred to Robert J. Capko's position at Middlesex Water (MSEX) in the March 26, 2026 announcement?

Robert J. Capko left the Principal Accounting Officer role and will continue as Corporate Controller. According to the company, Capko remains employed to provide continuity in accounting operations during the transition.

When did Tatyana Kaplan's appointment at Middlesex Water (MSEX) become effective and where did she work previously?

Her appointment became effective on March 26, 2026. According to the company, Kaplan was most recently Director of Accounting for Veolia North America regulated utility business, overseeing accounting and reporting across six jurisdictions.

How might Middlesex Water (MSEX) describe the significance of Kaplan's appointment for investors and customers?

The company frames the hire as strengthening regulatory accounting and operational finance capabilities. According to the company, Kaplan's rate case experience and transformation background are expected to support value for customers and shareholders.