Aqua America, Inc. (NYSE:WTR) announced that its Board of Directors has
appointed Mario Mele, president of Fidelio Insurance Company and Dental
Delivery Systems, Inc. as its newest member. The Board of Directors has
determined that Mele is an independent director and as such, appointed
him to the Corporate Governance Committee of the Board.
Mele was appointed to the class of directors that stands for re-election
at Aqua America’s 2011 annual meeting. He replaces former director and
Drexel University President Dr. Constantine Papadakis who passed away in
April of this year.
Fidelio Insurance Company specializes in underwriting group dental
insurance. Founded in 1986, the company expanded its operations to New
Jersey in 2002. Mele is concurrently president of Dental Delivery
Systems, Inc., a dental HMO that serves clients in Pennsylvania, New
Jersey and New York. Mele has 35 years of experience in the health
insurance industry having headed Dental Delivery Systems since 1975.
In addition to his private industry experience, Mele spent eight years
in government having been elected chairman of the Montgomery County (PA)
Board of Commissioners in 1992, where he managed the County’s then $300
million operating budget and $200 million capital budget. Prior to that,
he served 7 years on the Pennsylvania Liquor Control Board under
Pennsylvania Governor Richard Thornburgh.
Aqua America Chairman Nicholas DeBenedictis said that the company will
be well served by Mele’s experience and public. "Mario brings a wealth
of relevant knowledge to our Board. His tenure in the health insurance
industry will be valuable as we continue to manage the challenge of
increasing health insurance costs. Additionally, his experience in
county and state government will provide insight as we continue to
pursue and acquire municipal and authority water and wastewater systems.”
Mele received a B.A. and an M.A. in physics from LaSalle University and
Temple University respectively. He also serves as a member of the Holy
Redeemer Health System Advisory Board and the Board of the Opera Company
of Philadelphia.
Aqua America is a publicly traded water and wastewater utility holding
company with operating subsidiaries serving approximately 3
million
people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New
Jersey, New York, Florida, Indiana, Virginia, Maine, Missouri and South
Carolina. Aqua America is listed on the New York Stock Exchange under
the ticker symbol WTR.
WTRG
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