Company: AWK
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001193125-25-064607
Chunk: 23

Company: American Water Works Company, Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 23
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 plans for internal candidates and, as appropriate, identification of external candidates. The criteria used to assess potential CEO candidates are formulated by the Board based on the Company’s business strategies, and include the candidates’ experience, as well as strategic and leadership qualities. The Board’s deliberation on CEO succession is to include an emergency succession plan that addresses temporary delegation of authority if an unforeseen event such as death or disability occurs that prevents the CEO from continuing to fulfill the role. The Board may review executive development and succession planning more frequently as it deems appropriate. Consistent with its responsibilities as described in this section, the Board has delegated the day-to-dayresponsibility for the process of providing a slate of CEO succession candidates for consideration by the Board to the Nominating Committee, with input from the Board Chair and the current CEO. The Board also has delegated authority to the ED&CC to collaborate with the CEO to ensure that processes are in place for succession planning and development with respect to other executive officers. As a practical matter, consideration of executive succession planning (especially for the CEO role) occurs throughout the year at Board meetings and involves regular interaction between and among the Board, the Chief Executive Officer, the President, and other members of management, as appropriate. The succession and transition of (i) Mr. Griffith as our President effective August 1, 2024, and as Chief Executive Officer to be effective May 14, 2025; (ii) David M. Bowler as our Executive Vice President and Chief Financial Officer, effective August 1, 2024; and (iii) Stacy A. Mitchell as our Executive Vice President and General Counsel, effective June 5, 2024, were implemented in accordance with the foregoing process. LIMITATIONS ON ADDITIONAL BOARD SERVICE, AND CHANGES IN JOB RESPONSIBILITIES The Board’s Corporate Governance Guidelines limit the service of Board members as directors of other public companies. Commonly referred to as “overboarding” provisions, the primary purpose of these limitations is to ensure that each director can devote sufficient time to perform their duties as a member of the Board. Under these provisions, a director may not serve on the board of directors of more than four public companies, including American Water, and a director who is an executive officer of a public company, including American Water, may not serve on the board of directors of more than two public companies, including American Water. A director may not serve on the audit committee of more than two public companies, excluding American Water, without the prior approval of the