MENTOR, Ohio, Dec. 4, 2013 /PRNewswire/ -- Gas Natural Inc. (NYSE MKT: EGAS) ("Gas Natural" or the "Company"), a holding company operating local natural gas utility companies serving approximately 70,000 customers in seven states, today announced that Thomas J. Smith, Vice President and Chief Financial Officer, has announced his plans to retire after a distinguished career of over 50 years, including ten years of service with Gas Natural and its predecessor companies. Mr. Smith has served in his current role since November 2007. The Company will conduct an in-depth, national search for a replacement. Mr. Smith will continue in his role until a replacement is found and a seamless transition is completed. He will also continue to serve as a member of the Board of Directors.
"It has been my privilege and honor to know and work with Tom for more than 25 years. He has been instrumental in the growth of Gas Natural and gave endlessly of his time and talent to build the Company in both favorable and challenging times. On behalf of the Board, I thank him for his distinguished tenure and leadership, and wish him all the best in retirement," said Richard M. Osborne, Chairman and CEO of Gas Natural Inc.
Mr. Smith noted, "I am very appreciative of my time with Gas Natural. It is a great company full of great people and has the opportunity to continue to build upon its successes." He added, "I look forward to seeing the Company continue to expand and develop while successfully executing on its growth strategy. While I look forward to the opportunity to spend more time with my family and on other personal interests, I will work with Rick and the Board to ensure a smooth and effective transition."
About Gas Natural Inc.
Gas Natural Inc., a holding company, distributes and sells natural gas to end-use residential, commercial, and industrial customers. It distributes approximately 33 billion cubic feet of natural gas to approximately 70,000 customers through regulated utilities operating in Montana, Wyoming, Ohio, Pennsylvania, Maine, North Carolina and Kentucky. The Company's other operations include interstate pipeline, natural gas production and natural gas marketing. The Company's Montana public utility was originally incorporated in 1909. Its strategy for growth is to expand throughput in the Maine and North Carolina markets while looking for acquisitions that are either adjacent to its existing utilities or in under saturated markets.
The Company's toll-free number is 800-570-5688. Gas Natural Inc. regularly posts information on its website at www.egas.net.
Safe Harbor Regarding Forward-Looking Statements
The Company is including the following cautionary statement in this release to make applicable and to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of, Gas Natural Inc. Forward-looking statements are all statements other than statements of historical fact, including, without limitation, those that are identified by the use of the words "anticipates," "estimates," "expects," "intends," "plans," "predicts," "believes" and similar expressions. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those expressed. Factors that may affect forward-looking statements and the Company's business generally include but are not limited to the Company's ability to successfully integrate the operations of the companies it has recently acquired and consummate additional acquisitions, the Company's continued ability to make dividend payments, the Company's ability to implement its business plan, fluctuating energy commodity prices, the possibility that regulators may not permit the Company to pass through all of its increased costs to its customers, changes in the utility regulatory environment, wholesale and retail competition, the Company's ability to satisfy its debt obligations, including compliance with financial covenants, weather conditions, litigation risks, and various other matters, many of which are beyond the Company's control, the risk factors and cautionary statements made in the Company's public filings with the Securities and Exchange Commission, and other factors that the Company is currently unable to identify or quantify, but may exist in the future. Gas Natural Inc. expressly undertakes no obligation to update or revise any forward-looking statement contained herein to reflect any change in Gas Natural Inc.'s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
For more information contact:
Gas Natural Inc.
Thomas J. Smith, Chief Financial Officer
Phone: (440) 974-3770
SOURCE Gas Natural Inc.