SJW Group (SJW) Appoints James P. Lynch as Chief Accounting Officer, Andrew Walters as CFO

January 28, 2022 4:04 PM EST

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The SJW Group (NYSE: SJW) board of directors has appointed James P. Lynch as chief accounting officer and Andrew F. Walters as chief financial officer. Peter Fletcher has been appointed vice president - information security officer of San Jose Water Co., a wholly owned subsidiary of SJW Group. The appointments were effective on Jan. 26. Lynch and Walters have both held previous officer positions at SJW Group.

Lynch, who had served as the CFO and treasurer since 2010, has taken on the role of CAO. In this role, he will continue to be responsible for all aspects of financial reporting, leading the company’s accounting team to ensure compliance with accounting practices and providing strategies for credit ratings metrics. Lynch has an extensive accounting and auditing background, with a 26-year career at KPMG LLP that included responsibilities as an audit partner.

Walters, who had recently served as chief corporate development officer and an integration executive, has been with SJW Group since 2014. In his new role, he will be responsible for driving business planning, growth and development as well as treasury, investor relations and other related functions. Prior to joining SJW Group, Walters was a managing director and senior investor for JP Morgan’s Infrastructure Investment Group. Prior to JP Morgan, he gained extensive experience in mergers and acquisitions, finance, and private equity fundraising as managing director and head of infrastructure investment banking for the Americas at Citigroup.

Eric W. Thornburg, chair, president and CEO of SJW Group, stated, “These two new roles, which will both report directly to me, put Jim and Andrew in positions where they can leverage their individual expertise and backgrounds to best serve our growing and more complex organization. These appointments also enhance the organization’s succession planning efforts. SJW Group’s transformation into a multistate water and wastewater company with operations in California, Connecticut, Maine and Texas has added to the complexity of accounting and financial reporting. Jim’s extensive background in these areas is well suited to meet those increasing challenges. Likewise, the expansion of our footprint has increased the focus on business planning, acquisitions and earnings growth that can be supported with Andrew’s expertise.”

Fletcher has been with San Jose Water since 2016 and most recently served as the senior director of cybersecurity and networking. In his new role as vice president - information security officer, he will have responsibilities across all SJW Group operations.

Thornburg stated, “Last fall, I was privileged to be invited by the White House to join a select group of business, national security and academic leaders in discussing cybersecurity. The discussions reinforced the criticality of sharing information and resources between businesses, government, academia and utilities. We are fortunate to have the expertise of Peter, a well-recognized leader in cybersecurity, to lead our efforts across the company and within our industry in this critical area.”

Lynch holds a bachelor’s degree in commerce from Santa Clara University. Walters holds a bachelor’s degree in business administration from Colorado State University. And Fletcher holds an associate’s degree in accounting, mathematics and statistics from Southdowns College in the United Kingdom.



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