Middlesex Water Company (MSEX) 2010年年度报告「NASDAQ」.pdf

1、BUILDING ON A FRAMEWORK OFSERVICE RELIABILITY2010 Annual ReportA Provider of Water,Wastewater and Related Products and ServicesP.O.Box 1500Iselin,New Jersey 08830-0452732-634-Middlesex Water Company 2010 Annual ReportTO OURSHAREHOLDERS2010 was a year of continued change and progress in a number of a

2、reas.In the realm of leadership and corporate governance,your Board of Directorscontinued to develop and implement a Board succession plan that provides for continuity in the independence and objectivity of Board Members.The departures of long-time Directors,John Mulkerin and Annette Catino,created

3、openings for two new Directors.We will miss the advice and counsel of John and Annette,two outstanding professionals whose business expertisehas served you and your Company well for so many years.Following the decisions by John and Annette to step down,we were pleased to recruit twoexceptional candi

4、dates in Amy Mansue and James Cosgrove,Jr.P.E.Amy and Jim bring a wealth of technical,management and governance experienceto the Company and have quickly confirmed their value to your Board in theirrelatively short tenure.A Legacy of LeadershipOf great significance in the succession planning process

5、 was the decisionby J.Richard Tompkins,your Chairman since May 1990,to retire as Chairmanin May 2010.Coincident with that decision,the Board appointed me to that role in May 2010.Rich Tompkins has navigated the Company throughnumerous challenges and opportunities over three decades in his roles asPr

6、esident and Chairman.His operational and management insights have been a valuable resource to me personally,and he will be greatly missed by me and the rest of the Board,as he will not be standing for re-election to the Board at the 2011 Annual Meeting of Shareholders.Richs knowledge of utility oper