Recent UI News
Larry Schumacher Named Chief Executive Officer
May 30, 2007 -
NORTHBROOK, Ill. – May 31, 2007-- Utilities, Inc. is pleased to announce the appointment of Larry Schumacher as Chief Executive Officer for the company. Mr. Schumacher replaces John Stokes, who has been CEO of the national water and wastewater corporation since May of 2006.
“This is an exciting time for the company,” said Chris Lee, Managing Partner of AIG Highstar Capital II, parent of Utilities, Inc. “We’re confident in Larry’s leadership to continue to grow the Company, and to deliver positive financial results.”
“Larry’s knowledge of the industry and experience at Utilities, Inc. adds tremendous value to the organization,” added John Stokes, who returns as a partner to AIG Highstar Capital.
Mr. Schumacher joined Utilities, Inc. in 1992 as Director of Corporate Accounting and became company President in 1994. He has played an integral role in increasing company revenues almost four-fold and significantly expanding its geographic scope during that time. “It has been great to work with John as the Company has transitioned to its new investor structure,” said Schumacher. “Having Highstar as our shareholder has already provided opportunities to invest in and grow our business, and we are all excited about the future opportunities.” Prior to joining Utilities, Inc. Mr. Schumacher was a Senior Manager with Deloitte and Touche. He holds a Bachelor of Arts degree from Governors State University and a Master of Business Administration from DePaul University.
Utilities, Inc. was formed in 1965 to provide developers with an alternative method to obtain water and wastewater utility service. Today, Utilities, Inc., a portfolio company of AIG Highstar Capital, through its approximately 90 subsidiaries, operates over 500 utility systems in 17 states and serves over 1 million people.
UI CEO Announcement (PDF)