Category: Culture

WALL, N.J. — (BUSINESS WIRE) — New Jersey Resources (NYSE: NJR) today announced Robert Pohlman has been named Vice President of NJR Clean Energy Ventures (CEV) and Corporate Strategy effective immediately. Mr. Pohlman will be responsible for leading and developing the renewable energy business, while also driving new growth opportunities and strategic initiatives across NJR.

“NJR Clean Energy Ventures is a core part of our business and growth strategy,” said Steve Westhoven, President and CEO of New Jersey Resources. “With his extensive experience in the sustainable investment space, Bobby has played a key role in our company’s investment of over $1 billion in renewable infrastructure over the last decade and helped grow CEV into one of the largest solar owner/operators in New Jersey. He has proven himself to be a strong, capable leader in every job he’s held. I am confident Bobby will continue to facilitate growth and success at CEV as we invest in and deliver cleaner energy to our customers.”

Mr. Pohlman joined NJR in 2011 as Director of Business Development at CEV. In 2019, he was named Chief of Staff to the President and CEO of NJR and served as Managing Director of Innovation and Strategic Initiatives before being promoted to Vice President-Strategy, Communications, Government Relations and Policy in 2021. Prior to joining NJR, he worked as Vice President at Citadel LLC and Assistant Vice President at Credit Suisse Energy LLC and Barclays Capital, Inc.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

• New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,600 miles of natural gas transportation and distribution infrastructure to serve over 560,000 customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex and Burlington counties.
• Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of more than 370 megawatts, providing residential and commercial customers with low-carbon solutions.
• Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
• Storage and Transportation serves customers from local distributors and producers to electric generators and wholesale marketers through its ownership of Leaf River and the Adelphia Gateway Pipeline Project, as well as our 50% equity ownership in the Steckman Ridge natural gas storage facility.
• Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its over 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.

For more information about NJR:

Visit www.njresources.com.

Follow us on Twitter @NJNaturalGas
“Like” us on facebook/NewJerseyNaturalGas.

Contacts

Media Contact:
Michael Kinney

732-938-1031

mkinney@njresources.com

Investor Contact:
Adam Prior

732-938-1145

aprior@njresources.com

PARSIPPANY, N.J. — (BUSINESS WIRE) — B&G Foods, Inc. (NYSE: BGS) announced today that it intends to issue a press release with second quarter 2022 financial results after the market close on Thursday, August 4, 2022. B&G Foods has scheduled a conference call at 4:30 p.m. ET that same day to discuss the results. Hosting the call will be Casey Keller, President and Chief Executive Officer and Bruce Wacha, Executive Vice President of Finance and Chief Financial Officer.

The earnings press release and live audio webcast of the conference call can be accessed at www.bgfoods.com/investor-relations. A replay of the webcast will be available following the conference call through the same link.

About B&G Foods, Inc.

Based in Parsippany, New Jersey, B&G Foods and its subsidiaries manufacture, sell and distribute high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. With B&G Foods’ diverse portfolio of more than 50 brands you know and love, including Back to Nature, B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Green Giant, Las Palmas, Le Sueur, Mama Mary’s, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands and Victoria, there’s a little something for everyone. For more information about B&G Foods and its brands, please visit www.bgfoods.com.

Contacts

Investor Relations:

ICR, Inc.

Dara Dierks

866.211.8151

Media Relations:

ICR, Inc.

Matt Lindberg

203.682.8214

Campbell Board elects Bennett Dorrance Jr. as a director

CAMDEN, N.J. — (BUSINESS WIRE) — Campbell Soup Company (NYSE:CPB) announced today that Bennett Dorrance has decided to retire from the company’s Board of Directors.

Dorrance is the longest-serving member of Campbell’s Board of Directors with 33 years of service. He was elected to the Board in 1989, was Vice-Chairman from 1993-1996 and has served with distinction on all the Board’s standing committees. Most recently, Dorrance was a member of the Board’s Compensation and Organization, and Governance committees.

“Since joining the Board, Bennett has helped to grow and protect Campbell’s legacy and guide management through many chapters,” said Keith R. McLoughlin, Chair of the Board. “On behalf of Campbell and my fellow board members, we thank him for his many contributions to the company and wish him and his family the very best in his retirement.”

Bennett Dorrance is the grandson of Dr. John T. Dorrance, the inventor of condensed soup and President of the company from 1914-1930, and the son of John T. Dorrance Jr., a former Chair of the company from 1962-1984. As a major shareholder, Dorrance has provided extensive knowledge of Campbell’s history, organization and culture to his work on the Board. As the managing director and co-founder of the real estate development firm DMB Associates, Dorrance also provided business, entrepreneurial and operational expertise.

Mark Clouse, Campbell’s President and Chief Executive Officer added, “Bennett’s commitment to Campbell’s heritage, to our purpose and values, and to our iconic brands has been extraordinary. As a long-term shareholder, Bennett has been dedicated to the success of the business and continuing the legacy of his grandfather and father as a steward of Campbell’s long-term interests. His positive impact on the company will last far beyond his tenure on the Board. We wish him and his family a healthy and happy retirement.”

Dorrance Jr. Elected to Campbell Board

The Board announced that it elected Bennett Dorrance Jr., 51, an entrepreneur who has invested in a variety of successful for-profit and non-profit enterprises focused on sustainability, land management, and health and wellness.

Dorrance Jr. is a managing director for the DFE Trust Company and vice president of the Dorrance Family Foundation, which supports education, natural resource conservation and programs that improve quality of life in Arizona, California and Hawaii. He is the cofounder and a board member of Kohala Institute in North Kohala, Hawaii, which supports local farmers, local schools, alternative energy initiatives, and land and historic preservation. Dorrance Jr. is also a member of the Board of Directors of the Julie Ann Wrigley Global Institute of Sustainability at Arizona State University.

McLoughlin said, “We are excited to welcome Bennett to the Campbell Board. Like his father, Bennett has a deep appreciation of Campbell’s history and passion for the business. His expertise in sustainability and entrepreneurship will be an asset to the Board.”

Dorrance Jr. earned his B.S. in art history from Princeton University and a master’s degree in sustainable leadership from Arizona State University.

About Campbell Soup Company

For more than 150 years, Campbell (NYSE: CPB) has been connecting people through food they love. Generations of consumers have trusted Campbell to provide delicious and affordable food and beverages. Headquartered in Camden, N.J. since 1869, Campbell generated fiscal 2021 net sales of nearly $8.5 billion. Our portfolio includes iconic brands such as Campbell’s, Cape Cod, Goldfish, Kettle Brand, Lance, Late July, Milano, Pace, Pacific Foods, Pepperidge Farm, Prego, Snyder’s of Hanover, Swanson and V8. Campbell has a heritage of giving back and acting as a good steward of the environment. The company is a member of the Standard & Poor’s 500 as well as the FTSE4Good and Bloomberg Gender-Equality Indices. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo.

Contacts

Investors:
Rebecca Gardy

(856) 342-6081

Rebecca_Gardy@campbells.com

Media:
James Regan

(856) 219-6409

James_Regan@campbells.com

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa” (Superior) of Assured Guaranty Re Overseas Ltd. (AGRO) (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect AGRO’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

AGRO’s risk-adjusted capital, as measured by Best’s Capital Adequacy Ratio (BCAR), is currently and projected by AM Best to be at the strongest level over the next year. Shareholders’ equity of AGRO has been stable in the past few years, and is forecast to grow steadily in the forecast years. The company’s strong liquidity position, conservative investment portfolio and well-positioned financial flexibility due to its affiliation with Assured Guaranty Re Ltd., the indirect parent, and Assured Guaranty Ltd. (AGL), the ultimate parent, as well as AGRO’s active capital management, provide support for the balance sheet assessment of strongest.

AM Best assesses AGRO’s operating performance as adequate based on its operating results, which have been driven primarily by investment income. Recent two-year loss ratios have increased to a great extent, compared with the prior few years’ low loss ratios, mainly as a result of the increased losses and decreased earned premiums from the aircraft residual value insurance (RVI) business, which has been impacted heavily by the low activity in the aviation industry affected by the COVID-19 pandemic. AGRO’s expense ratios in 2020 and 2021 have been hampered by the increase in expenses and decrease in earned premiums. The high combined ratio has affected AGRO’s current overall operating performance. AGRO has low net returns on equity due to its underutilization of capital, and the opportunistic deployment of capital to new non-financial guaranty business.

AM Best assesses AGRO’s business profile as neutral. The company’s life financial reinsurance program continues to exhibit risk profiles with very low loss probability. AGRO’s aircraft RVI program was suspended since 2020 due to COVID-19 pandemic, and AM Best does not expect it to resume until the international travel is opened fully. AGRO has limited competition with minimal number of players in these lines of business segments. AGRO actively seeks for opportunistic growth in non-financial guaranty business, not to chase premium growth.

AGRO’s overall ERM assessment is appropriate, as the company employs a robust ERM framework and infrastructure embedded across the AGL group of companies, of which AGRO is a member. AM Best considers AGRO’s risk assessment capabilities to be aligned appropriately with its risk profile.

The ratings also take into consideration the benefits and support AGRO receives from the AGL group of companies — a broader, successful franchise — and its importance to AGL’s overall business strategy and profile.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Yuhmei Chen
Senior Financial Analyst
+1 908 439 2200, ext. 5236
yuhmei.chen@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Wai Tang
Senior Director
+1 908 439 2200, ext. 5633
wai.tang@ambest.com

Jeff Mango
Managing Director,
Strategy & Communications
+1 908 439 2200, ext. 5204
jeffrey.mango@ambest.com