RGC Resources (NASDAQ: RGCO) Elects New Directors and Executive Officers at Annual Shareholders Meeting

RGC Resources, Inc. recently concluded its Annual Meeting of Shareholders on January 27, 2025, to elect directors, ratify independent auditors’ selection, and conduct a non-binding advisory vote on executive compensation. The company disclosed the voting outcomes for each agenda item as follows:

For the election of Class A directors, shareholders voted as follows:
– Abney S. Boxley III: 5,909,398 shares for, 548,702 shares withheld
– Elizabeth A. McClanahan: 5,596,052 shares for, 862,048 shares withheld
– John B. Williamson III: 6,298,454 shares for, 159,646 shares withheld

Additionally, directors Nancy Howell Agee, Jacqueline L. Archer, Robert B. Johnston, and J. Allen Layman continue serving as Class B directors until 2026, while T. Joe Crawford, Maryellen Goodlatte, and Paul W. Nester continue their roles as Class C directors until 2027.

Shareholders supported the appointment of Deloitte & Touche LLP as independent auditors for the fiscal year ending September 30, 2025, with 7,877,922 shares for, 23,632 against, and 25,764 abstaining.

Furthermore, shareholders approved executive compensation through a non-binding advisory vote, with 6,282,641 shares in favor, 125,826 against, and 49,633 abstaining.

Following the shareholder meeting, RGC Resources revealed that John B. Williamson III was elected as the Chairman of the Board, while Paul W. Nester assumed the position of President and CEO. The board also elected senior officers, including Timothy J. Mulvaney as Vice President, Treasurer, and CFO, Lawrence T. Oliver as Senior Vice President, Regulatory and External Affairs and Secretary, and C. Brooke Miles as Vice President, Human Resources and Community Engagement.

In a press release issued on January 27, 2025, the company announced the aforementioned appointments. The release highlighted the strategic moves made at the Board of Directors meeting, emphasizing the key roles assigned and the future direction of RGC Resources and Roanoke Gas Company.

The company issued a cautionary statement included in the press release, warning of uncertainties and risks that could potentially impact the realization of forward-looking statements. These statements are at the forefront due to the inherent unpredictability of future results against anticipated plans or strategies.

The full details of the 8-K filing and the subsequent press release, including the lineup of directors and officers, is available for public access.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read RGC Resources’s 8K filing here.

About RGC Resources

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.