Chesapeake Utilities Corp. President and CEO Jeff Householder will ring The Opening Bell on May 20 at the New York Stock Exchange.
Householder, who was appointed president and CEO by the board of directors on Jan. 1, will be joined by several employees and members of the company’s leadership team who will participate in the ceremonial ringing which signals the opening of the day’s trading.
“I am honored to have the opportunity to take part in this historic tradition and stand with a group of our many key employees who have driven our growth over the last 10 years, which provides a strong foundation for our future growth,” said Householder. “Chesapeake’s combination of strategic focus, financial discipline and engaged employees has led to our Company’s long track record of financial and operational success. Last year represented the 25th anniversary of our listing on the NYSE and the bell ringing event represents an excellent time to recognize all of our employees’ many efforts in driving our past success and positioning us for the future.”
Over the past 10 years, Chesapeake has invested more than $1.38 billion in capital expenditures. These capital expenditures have generated an earnings per share compound annual growth rate of approximately 10%, resulting in the company doubling its size twice over this period — every five years. This has translated into a compound annual growth rate in shareholder value of 17.7% over the 10-year period, increasing market capitalization from $215 million at the end of 2008 to approximately $1.5 billion currently. Since listing on the exchange in early 1993, the company’s market capitalization has grown from $45 million to approximately $1.5 billion at recent stock prices.
The bell-ringing is scheduled for 9:30 a.m. May 20. The New York Stock Exchange will stream The Opening Bell ringing at livestream.com/nyse. A video of the bell-ringing will be archived on that same page after the livestream.