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Current News For
Immediate Release: Contact:
Donald
L. Correll, President and CEO
Pennichuck
Corp. Announces Additions to Management Team Merrimack, NH (NASDAQ: PNNW) - Pennichuck Corporation announces the appointment of William D. Patterson as its new CFO, replacing Charles J. Staab who recently announced his retirement. Mr. Patterson has over 25 years of experience in the water and utility industries. Most recently, Bill founded and served as President of EnSTAR Management Corporation and also served as Executive Advisor to Concentric Energy Advisors in Marlborough, MA, both firms providing independent corporate finance advisory and consulting services to utility and energy companies. He is past CFO of Enermetrix, a Maynard, MA based early stage software company focused in the retail energy industry. Previously Bill served for over 15 years as a senior investment banker at E.F. Hutton, Shearson Lehman and Smith Barney, where he headed the firm's corporate finance practice for utility companies. "Pennichuck Corporation is delighted to have been able to retain someone with Bill's extensive background and credentials" said Don Correll, Pennichuck president and chief executive officer. "His experience in finance and the utility business will be invaluable as we embark on a major capital program and expansion effort." As part of its overall growth strategy, Pennichuck Corporation also announces the appointment of Michael C.J. Fallon as President of its real estate subsidiary, The Southwood Corporation. Mr. Fallon has over 30 years of experience in the real estate industry and most recently operated Fallon and Associates, LLC, a Hancock, NH based consulting organization specializing in distressed and surplus property redevelopments and strategic asset management for corporate and institutional portfolios. Previously Mike served as President of United Properties Group, Inc., a real estate investment and development company headquartered in Montvale, New Jersey. Prior to joining United Properties, Mike was Senior Vice President of Cushman and Wakefield, Inc., in New York City, where he was responsible for the firm's national corporate consulting practice as well as managing the company's Realty Advisor group. Pennichuck Corporation is a holding company located in Merrimack, New Hampshire with three wholly owned operating subsidiaries involved in regulated water supply and distribution throughout southern and central New Hampshire; non-regulated, water-related services conducted through Pennichuck Water Service Company; and real estate investment and development activities conducted through The Southwood Corporation. Pennichuck Corporation is traded on the NASDAQ Stock Market under the symbol "PNNW." |