Middlesex Water Company appoints new chief financial officer

ISELIN, New Jersey, June 10, 2024 (GLOBE NEWSWIRE) — Middlesex Water Company (NASDAQ: MSEX) has named Mohammed G. (Rally) Zerhouni as its new senior vice president, chief financial officer and treasurer, effective June 24, 2024. part of ongoing strategic succession planning efforts. Zerhouni joins Middlesex following an extensive search to succeed Senior Vice President, Treasurer and Chief Financial Officer A. Bruce O’Connor, who will retire from the Company on June 21, 2024 after 34 years of service.

“I and the rest of the Middlesex Board are thrilled to have Mohammed G. (Rally) Zerhouni join our company. His extensive knowledge and experience will play a key role in addressing the many opportunities and challenges facing our company and our industry,” said Nadine Leslie, president and CEO of Middlesex Water. “A very comprehensive and thoughtful recruitment process was conducted, which allowed us to select a financial leader who will be able to implement the Company’s mission of ensuring operational and financial excellence,” added Leslie.

Zerhouni is an accomplished finance leader with over 20 years of experience in finance, primarily in the regulated utilities sector. Zerhouni was most recently Senior Vice President of Finance and Chief Accounting Officer at SJW Group, where he led a team of over 55 professionals in key areas of accounting and finance. Prior to joining SJW Group, he was CFO at regulated utility Veolia North America, where he led the development and execution of its finance transformation roadmap. Prior to joining Veolia, he led audit teams at PwC that included engagements with large investor-owned utilities. Zerhouni also served as an adjunct professor at Franklin University, teaching accounting courses.

“I am honored to have been appointed to lead the Middlesex Water Company’s financial organization. I am very excited to work with this talented team to continue providing reliable and affordable water services to our communities while navigating the evolving regulatory environment and ensuring long-term financial stability,” said Zerhouni.

“We are grateful to Bruce for his many years of service and leadership, including 28 years as CFO, overseeing financial reporting, customer service and regulatory rates matters. He was instrumental in successfully accessing capital markets to finance Middlesex’s growth in New Jersey and Delaware,” said Leslie. “Bruce’s commitment to strong regulatory relationships and fiscal responsibility has served our company and our stakeholders well. On behalf of the Management Board, we wish him health and happiness in retirement,” added Leslie.

About Middlesex Water Company
Founded in 1897, Middlesex Water Company is a trusted provider of high-quality, life-sustaining water services for residential, commercial, industrial and fire protection purposes. The Company and its subsidiaries constitute the Middlesex family of companies that collectively serve a population of nearly half a million people in New Jersey and Delaware. We offer a full range of water and sewage and related services, including municipal and industrial contracts, as well as technical service and maintenance of water and sewage systems. We focus on meeting and balancing the needs of our employees, customers and shareholders. We invest in our people, our infrastructure and the communities we serve to support reliable and resilient utilities, economic growth and quality of life.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, our long-term strategy and expectations, the status of our acquisition program, the impact of our acquisitions, the impact of current and anticipated rate demands and the impact of our capital program on our compliance with environmental protection requirements. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic conditions, adverse weather conditions, the success of certain cost-containment initiatives, changes in regulations or regulatory treatment, the availability and cost of capital, the success of growth initiatives and other factors discussed in our filings with the Securities and Exchange Commission.

Contact:
Bernadette Sohler
Middlesex Water Company
(732) 638-7549
www.middlesexwater.com

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