Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) today announced that its Board of Directors has appointed Jeffry M. Householder, currently President of the Company’s Florida business unit, President and Chief Executive Officer (“CEO”), effective January 1, 2019. Concurrent with this promotion, the Company announced Mr. Householder’s appointment to the Board of Directors, also effective January 1, 2019. Mr. Householder succeeds Chesapeake’s current President and CEO, Michael P. McMasters, who will continue as a member of the Board of Directors. Mr. McMasters announced his retirement in September.
“Jeff’s leadership, innovation and strategic thinking have been critical drivers of the dramatic growth we have cultivated in our Florida operations, and I am confident that under his leadership Chesapeake’s culture will flourish and continue to produce superior service to our customers and value for our shareholders,” stated Mike McMasters. “I congratulate Jeff and look forward to supporting him and Chesapeake’s very capable senior management team to ensure a smooth transition and the Company’s future success.”
“Jeff has the experience, leadership skills and vision that are essential for the continued success of our businesses, and he understands the culture and values that have driven Chesapeake’s track record of success,” stated John R. Schimkaitis, Chairman of the Board of Directors. “We are committed to leadership development and planned transitions in our management team, and Jeff’s accomplishments as the leader of our Florida business unit underlie our confidence in his ability to build on Chesapeake’s strong foundation and lead the management team, as we continue our culture of entrepreneurial, disciplined capital investment.”
Mr. Householder has more than 30 years of energy industry experience and joined Chesapeake Utilities in 2010 as President of the Company’s Florida business unit after serving in leadership positions with TECO Energy Peoples Gas, West Florida Gas Company, Florida City Gas and Tallahassee Utilities. Under Jeff’s leadership, the Florida operations have generated significant growth in earnings while providing safe, clean, reliable and affordable energy and solutions that promote economic development and preserve environmental integrity. In addition, he led the growth and expansion of Peninsula Pipeline (the Company’s Florida intrastate pipeline) and the construction and operation of the Eight Flags Combined Heat and Power facility, the first plant of this type for the Company. Jeff’s guidance and oversight of our accelerated Hurricane Michael restoration efforts and our acquisition of the Marlin assets in Florida, which we announced yesterday, also exemplify his executive leadership capabilities. He has worked closely with the Company’s Board of Directors and senior executives on strategic initiatives and corporate projects and has served as a member of the Company’s Growth Council, which is responsible for making recommendations to the Board regarding all significant capital investments considered by the Company. He has also