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|CHESAPEAKE UTILITIES CORPORATION APPOINTS JOSEPH D. STEINMETZ TO ASSISTANT VICE PRESIDENT|
Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake") announced today that the Board of Directors appointed Joseph D. Steinmetz as Assistant Vice President at their meeting earlier this month.
"Joe has led the Company's Internal Audit department over the last several years. The increasing involvement of Internal Audit in special projects and our business units' requests for Joe's team to perform operational audits to proactively address business issues demonstrates the increasing value placed upon his input and insights," said Michael P. McMasters, President and Chief Executive Officer of Chesapeake Utilities Corporation. "While maintaining an internal controls focus, Joe has increased value to the organization."
Mr. Steinmetz has over 20 years of financial experience and 13 years of experience in the natural gas industry working at Chesapeake Utilities Corporation. He joined the Company as a Director of Internal Audit in 2003 and then spent time as the Corporate Controller (2005-2007) and Director of Financial Reporting (2007-2009). He was recruited back to the Director of Internal Audit position in 2009 to expand the department and assist with implementing the significant requirements of the Sarbanes-Oxley Act (SOX) for Florida Public Utilities Company ("FPU"), which had been recently acquired by Chesapeake. Joe's leadership enabled Chesapeake to maintain SOX compliance as FPU became compliant. In April of 2014, Joe was promoted to Senior Director of Internal Audit.
As the head of Internal Audit, Mr. Steinmetz has expanded the department's focus to include increased operational auditing in addition to SOX compliance. In 2015, the Internal Audit department assumed responsibility for the Enterprise Risk Management (ERM) function within the Company. Under his leadership, the ERM process was redesigned to be more structured, integrated and robust. The process now includes ongoing identification and monitoring of risks, inclusion of both bottom up and top down approaches and synchronization of the ERM process with other key internal processes.
Prior to joining Chesapeake, Mr. Steinmetz was the Assistant Controller for Dover Motorsports and Director of Internal Audit for Dover Gaming and Entertainment, both located in Dover, Delaware.
Mr. Steinmetz earned a Bachelor of Science in Accountancy from Widener University and a Masters of Business Administration from Wilmington University.
Chesapeake Utilities Corporation is a diversified energy company engaged in natural gas distribution, transmission, gathering and processing, and marketing; electricity distribution; propane gas distribution and wholesale marketing; and other businesses. Information about Chesapeake Utilities Corporation and the Chesapeake family of businesses is available at www.chpk.com.
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