Consolidated Water Co. Ltd. announced that Jeffrey Parker has resigned as chairman of the company, member of the company’s board of directors and member of the audit and executive committees on 8 October.
Mr. Parker joined the Board in 1980 and periodically served as a director since that time.
He was named Chairman of the Board in 1982 and also served as a Chief Executive Officer from 1994-2004.
The company, through a press release, said it expected to appoint a new chairman at its upcoming board of directors’ meeting in November 2009.
Consolidated Water Co. Ltd. is engaged in the development and operation of seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or non-existent.
The company currently operates water production and/or distribution facilities in the Cayman Islands, the British Virgin Islands, Bermuda, Belize and the Commonwealth of the Bahamas.
Ordinary shares of Consolidated Water Co. are traded on the Nasdaq Global Select Market under the symbol ‘CWCO’.
President and CEO of Cayman Water Company Frederick W. McTaggart said Mr. Parker did not give reasons for his resignation and indicated that the company was progressing well and continuing expansion.
‘We are pleased with all operations and new opportunities,’ Mr. McTaggart. said. ‘One thing that does not slow down in tougher economic times is people’s need for water.’