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American Water CEO, retiring in May, will be replaced by CFO

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Voorhees-based American Water Works Co. Inc. announced today its president and chief executive officer Jeff Sterba will retire in May 2014, replaced by senior vice president and chief financial officer Susan N. Story.

According to the announcement, Sterba will stay on as an advisor to Story until January 1, 2015 to ensure a smooth transition. Sterba has led the company since 2010, overseeing increased earnings per share, market capitalization and revenues. It was during his tenure that American Water became the first U.S. water utility named to the Down Jones Sustainability North America Index. Sterba also helped launch the Value of Water Coalition, including public and private members of the water industry striving to educate the public on the important of clean and reliable water.

Story, currently senior vice president and chief financial officer at American Water, will take Sterba's place as president and chief executive, bringing more than 30 years of utility experience to the role. Previously, Story was executive vice president of electricity utility Southern Company and president and chief executive of that company's services division and in its Florida Subsidiary, Gulf Power Company. She began her career at Gulf Power as a nuclear plant engineer, the company said in a statement.

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