Change in Leadership Roles for RFC« All News

January 06, 2012

Charlotte, N.C. – Raftelis Financial Consultants, Inc. (RFC) is announcing the evolution of leadership roles in the firm. Effective January 1, 2012, William (Bill) Stannard has been elected to the position of President and Chief Executive Officer.

Mr. Stannard succeeds George Raftelis, who is the founder of RFC. Mr. Raftelis will remain active in the leadership of the firm in his role as Chairman of the Board. Mr. Raftelis 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 Mr. Stannard and Mr. Raftelis in executive leadership by continuing in his role as Chief Operating Officer.

Mr. 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. He has served as President of RFC since 2008. Mr. 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, Mr. 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).

Mr. Raftelis, a Certified Public Accountant, founded RFC in Charlotte, NC, in 1993, after leaving Ernst & Young where he served as the Partner in Charge of its national environmental consulting practice. Since then, he has helped to grow the firm to a staff of 34 employees in 4 offices across the country, and has established RFC as one of the premier financial, rate, and management consulting firms in the utility industry. Over his 35-year career, he has also played an important role in the evolution of the industry, particularly in the arena of utility rates and finance. His book, entitled Water and Wastewater Finance and Pricing: A Comprehensive Guide, is regarded as one of the leading books on the topic of water and wastewater utility rate setting.

“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 Mr. 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. Bill has been heavily involved in the leadership of the firm since joining us in 2002, and his experience will allow the transition to be seamless. While I am looking forward to reducing my involvement in the day-to-day operations of the firm, I am excited to remain in a leadership position with RFC, to continue to provide services to our clients, and to remain active in the industry. Furthermore, I am extremely proud of, and grateful for, the opportunity to serve our industry and help it evolve into the highly professional society that it is today.”