UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On June 18, 2020, Unitil Corporation (the “Company”) announced the hiring of Robert B. Hevert, 60, as Senior Vice President, effective as of July 23, 2020. The Company expects that its Board of Directors will appoint Mr. Hevert to the position of Senior Vice President, Chief Financial Officer (“CFO”) and Treasurer of the Company at its meeting on July 29, 2020, to be effective on July 31, 2020. In accordance with Article VI of the Company’s by-laws, the term of office of each of the Company’s officers (including Mr. Hevert) is until the first meeting of the Board of Directors after the next annual meeting of shareholders, and until such officer’s successor shall have been chosen and qualified.
Mr. Hevert most recently served as Partner and Practice Area Leader of Rates, Regulation and Planning at ScottMadden, Inc. (an energy and corporate & shared services consulting firm), where he has practiced since June 2016. Mr. Hevert was founder and Managing Partner of Sussex Economic Advisors, LLC (a management consulting and economic advisory firm) from 2012 until it was acquired by ScottMadden, Inc. in June 2016, and President of Concentric Energy Advisors, Inc. (an energy consulting firm) from 2002 until 2012. Mr. Hevert also served in senior positions at Navigant Consulting, Inc. (a management consulting firm that was acquired by Guidehouse) from 1997 until 2002, and as Vice President and Assistant Treasurer at Bay State Gas Company (a supplier of retail natural gas), where he served from 1987 until 1997. Mr. Hevert holds a degree in business and economics from the University of Delaware and an MBA from the University of Massachusetts at Amherst, and Mr. Hevert is a CFA® Charterholder.
Also on June 18, 2020, the Company announced it expects that Laurence M. Brock, 67, who has served as the interim CFO and Treasurer since March 16, 2020, will step down as CFO and Treasurer at the Board of Directors meeting on July 29, 2020, to be effective on July 31, 2020, but will remain as a Senior Vice President and will work directly with Mr. Hevert in order to ensure a smooth transition. Mr. Brock also served as the Company’s Controller and Chief Accounting Officer from June 2005 until March 2020, and was Vice President and Controller from 1995 until 2005. Mr. Brock is a Certified Public Accountant in the state of New Hampshire.
| Item 7.01 | Regulation FD Disclosure |
A press release announcing the Company’s hiring of Mr. Hevert is attached as Exhibit 99.1 to this Current Report on Form 8-K.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
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| 99.1 |
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| 104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| UNITIL CORPORATION | ||
| By: |
/s/ Laurence M. Brock | |
| Name: |
Laurence M. Brock | |
| Title: |
Senior Vice President, Chief Financial Officer and Treasurer | |
Date: June 24, 2020
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Exhibit 99.1 |
Page 1 of 2
FOR RELEASE
Unitil Announces Hiring of Chief Financial Officer and Treasurer
HAMPTON, NH, June 18, 2020: Unitil Corporation (“Unitil” or the “Company”) (NYSE:UTL) (www.unitil.com) today announced the hiring of Robert B. Hevert, CFA, as Senior Vice President, effective July 23, 2020. It is anticipated that Unitil’s Board of Directors will appoint Mr. Hevert to the position of Senior Vice President, Chief Financial Officer (“CFO”) and Treasurer of the Company at its upcoming meeting on July 29, 2020. It is also anticipated that Laurence M. Brock, who has served as Unitil’s interim CFO and Treasurer since March 16, 2020, will step down as CFO and Treasurer on July 29, 2020, but will remain as Senior Vice President and will work directly with Mr. Hevert in order to ensure a smooth transition.
Mr. Hevert most recently served as Partner and Practice Area Leader of Rates, Regulation and Planning at ScottMadden, Inc., where he has practiced since 2016. Mr. Hevert was founder and Managing Partner of Sussex Economic Advisors, LLC from 2012 until 2016, and President of Concentric Energy Advisors, Inc. from 2002 until 2012. Mr. Hevert also served in senior positions at Navigant Consulting, Inc. (now, Guidehouse) from 1997 until 2002, and Vice President and Assistant Treasurer at Bay State Gas Company. Mr. Hevert holds a degree in business and economics from the University of Delaware, an MBA from the University of Massachusetts at Amherst, and is a CFA® Charterholder.
“I’m thrilled to have someone with Bob’s character, leadership and experience joining our executive team. Bob’s extensive background in the energy and utility industries including corporate finance, rates and regulatory matters, energy markets and strategic planning make him an ideal choice to lead Unitil’s financial organization,” said Thomas P. Meissner, Jr., Unitil’s Chairman, Chief Executive Officer and President. “I’d also like to thank Larry Brock for all he has done to ensure our continued success, not only through this transition, but over his many years of service.”
6 Liberty Lane West
Hampton, NH 03842
T 603.772.0775
www.unitil.com
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Exhibit 99.1 |
Page 2 of 2
About Unitil Corporation
Unitil Corporation provides energy for life by safely and reliably delivering natural gas and electricity in New England. We are committed to the communities we serve and to developing people, business practices, and technologies that lead to the delivery of dependable, more efficient energy. Unitil Corporation is a public utility holding company with operations in Maine, New Hampshire and Massachusetts. Together, Unitil’s operating utilities serve approximately 106,100 electric customers and 83,900 natural gas customers. For more information about our people, technologies, and community involvement please visit www.unitil.com.
For more information please contact:
Todd Diggins – Investor Relations
Phone: 603-773-6404
Email: diggins@unitil.com
Alec O’Meara – Media Relations
Phone: 603-773-6404
Email: omeara@unitil.com
6 Liberty Lane West
Hampton, NH 03842
T 603.772.0775
www.unitil.com