In a recent update, Artesian Resources Corp. (NASDAQ:ARTNA), a $321 million market cap company in the water supply sector, announced significant changes in its leadership structure. Effective today, Dian C. Taylor, the long-standing Chief Executive Officer, President, and Chair of the Board, has taken a paid leave from her executive roles.
According to InvestingPro data, the company has maintained strong financial health with a 6.25% revenue growth and an impressive 32-year streak of consecutive dividend increases.
The Board of Directors has appointed Nicholle R. Taylor as the interim CEO and President. Nicholle, aged 57, has been with the company since 1991, holding various management and operational roles.
She has been on the Board since 2007 and served as the Senior Vice President of the Company and its subsidiaries since May 2012. Prior to this appointment, she was the President of Artesian Water Company, a subsidiary, since August 2021.
The company's stock currently offers a 3.85% dividend yield and trades near its 52-week low, presenting an interesting opportunity for value investors. InvestingPro subscribers can access additional analysis and 6 more exclusive tips about ARTNA's financial outlook.
Nicholle R. Taylor, who is also the niece of Dian C. Taylor and cousin of John R. Eisenbrey, Jr., will continue to serve as Senior Vice President during her tenure as interim CEO and President. The company clarified that there are no undisclosed arrangements or transactions involving Nicholle R. Taylor that would require disclosure under financial regulations.
Dian C. Taylor will retain her position as the Chair of the Board during her leave. The company has not provided further details regarding the circumstances or duration of Dian C. Taylor's leave. The information reported is based on a press release statement.
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