Change in Leadership Roles for RFC

Earlier in the year, Raftelis Financial Consultants, Inc. (RFC) announced that William ?Bill? Stannard was elected to the position of President and Chief Executive Officer.

Stannard succeeds George Raftelis, who is the founder of RFC. Raftelis will remain active in the leadership of the firm in his role as Chairman of the Board. He will also continue to provide consulting services for clients, remain active in a variety of industry associations, and maintain a highly visible profile in the industry through speaking engagements and authoring publications. In addition, Peiffer Brandt will assist Stannard and Raftelis in executive leadership by continuing in his role as Chief Operating Officer.

Stannard is a professional engineer and has more than 35 years of experience providing consulting services to the water and wastewater utility industry. He joined RFC in 2002 as a vice president after serving for 27 years in various managerial and executive positions for a large, international engineering firm. Stannard?s new role will further expand his already active involvement in the executive leadership of RFC. He will also continue to provide consulting services on a variety of client engagements. Over his career, Stannard has been very active in the industry and has served in various leadership roles in industry associations, including his recent appointment as a Trustee of the Management and Leadership Division of the American Water Works Association (AWWA).

?We believe that this is a great step in the evolution of RFC, and I?m delighted to have Bill lead us into the next phase of our firm?s progression,? said Raftelis. ?Bill brings significant experience, qualifications, and leadership skills to his new role. I know that we will be in strong hands as we continue to grow and develop our firm and maintain the quality of work and vision in the industry for which RFC has become known.??

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