Aqua America Announces Appointment of New Director
BRYN MAWR, Pa., Aug 05, 2009 (BUSINESS WIRE) -- Aqua America, Inc. (NYSE:WTR) announced that its Board of Directors has appointed Mario Mele, president of Fidelio Insurance Company and Dental Delivery Systems, Inc. as its newest member. The Board of Directors has determined that Mele is an independent director and as such, appointed him to the Corporate Governance Committee of the Board.
Mele was appointed to the class of directors that stands for re-election at Aqua America's 2011 annual meeting. He replaces former director and Drexel University President Dr. Constantine Papadakis who passed away in April of this year.
Fidelio Insurance Company specializes in underwriting group dental insurance. Founded in 1986, the company expanded its operations to New Jersey in 2002. Mele is concurrently president of Dental Delivery Systems, Inc., a dental HMO that serves clients in Pennsylvania, New Jersey and New York. Mele has 35 years of experience in the health insurance industry having headed Dental Delivery Systems since 1975.
In addition to his private industry experience, Mele spent eight years in government having been elected chairman of the Montgomery County (PA) Board of Commissioners in 1992, where he managed the County's then $300 million operating budget and $200 million capital budget. Prior to that, he served 7 years on the Pennsylvania Liquor Control Board under Pennsylvania Governor Richard Thornburgh.
Aqua America Chairman Nicholas DeBenedictis said that the company will be well served by Mele's experience and public. "Mario brings a wealth of relevant knowledge to our Board. His tenure in the health insurance industry will be valuable as we continue to manage the challenge of increasing health insurance costs. Additionally, his experience in county and state government will provide insight as we continue to pursue and acquire municipal and authority water and wastewater systems."
Mele received a B.A. and an M.A. in physics from LaSalle University and Temple University respectively. He also serves as a member of the Holy Redeemer Health System Advisory Board and the Board of the Opera Company of Philadelphia.
Aqua America is a publicly traded water and wastewater utility holding company with operating subsidiaries serving approximately 3million people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, New York, Florida, Indiana, Virginia, Maine, Missouri and South Carolina. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR.
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SOURCE: Aqua America, Inc.
Aqua America, Inc.
Donna Alston
Director, Communications
610-645-1095
dpalston@aquaamerica.com
or
Gretchen Toner
Senior Communications Specialist
610-645-1175
gmtoner@aquaamerica.com
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