LOS ANGELES
,
July 28, 2022
(press release)
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Former California State Senator and State Assemblyman represented Los Angeles area in the Legislature from 1986–2002, including as Senate Majority Leader 1998–2002 and as Chair of California’s powerful Latino Legislative Caucus 1990–2002; Esteemed community leader brings 40 years of experience in public policy, economic development, environmental stewardship, and community empowerment to the Board. Cadiz Inc. (“the Company”, NASDAQ: CDZI/CDZIP) announced today that Sen. Richard Polanco (ret.) of Los Angeles – a longtime political and business leader, and champion for the state’s disadvantaged communities – has been appointed to the Company’s Board of Directors. His appointment fills an existing vacancy on the Board. Sen. Polanco brings to the Board 40 years of high-level experience in elected office and the private sector with frontline expertise in public policy, economic development, risk management and community empowerment, among other areas. He served in the California legislature for 16 years, rising to some of the most powerful positions in Sacramento while authoring landmark bills across a wide range of policy areas, from clean drinking water to voting rights. Expanding access to clean, safe, affordable water and related technologies in areas without a reliable water supply is a core component of Cadiz’s mission, along with sharing the economic benefits of water infrastructure investments. The appointment of Sen. Polanco underscores this mission as well as Cadiz’s commitment to reflecting the state’s diversity. With Sen. Polanco’s appointment, 50% of the Cadiz Board are members of underrepresented minority communities, including three women. “Richard Polanco has dedicated his career to passionately advocating for underserved, disadvantaged California communities, making him a natural fit for leadership at Cadiz,” said Executive Board Chair Susan Kennedy. “As Cadiz rises to the urgent challenges amid unprecedented climate change and drought, Senator Polanco’s considerable skills and knowledge will help us in our work to secure a more sustainable and equitable water future for California.” Sen. Polanco’s appointment is the latest leadership addition at Cadiz, which continues to evolve as a water-solutions provider for California – most recently with the acquisition of a 220-mile natural gas pipeline that will be converted to carry water, linking the Colorado River with the California State Water Project system and other critical water infrastructure. In April, respected L.A.-based real estate executive Kenneth Lombard was also appointed to the Board. In March, Susan Kennedy – a longtime political and business leader with an extensive background in sustainable energy and water – was appointed Executive Chair. Kennedy, Polanco and Lombard join other social justice leaders on the Cadiz board, including former White House deputy chief of staff Maria Echaveste and Los Angeles education advocate Carolyn Webb de Macías, who joined the Board in 2019. Sen. Polanco began his career in public service in 1975 and later served as State Senate Majority Leader and Chair of the California Latino Legislative Caucus before entering the private sector in 2002. A native of East Los Angeles, he is currently managing director of Tres Es Inc., a boutique government affairs firm that specializes in public policy affecting disadvantaged communities. “Cadiz is a tremendous public-private partnership that offers groundbreaking water solutions for California while keeping the needs of disadvantaged communities at the core of their operations,” Polanco said. “I look forward to joining this diverse group of capable leaders at a time when Cadiz’s resources, expertise and leadership are needed more than ever.” Sen. Polanco’s appointment is effective immediately. He will serve on the Board’s Compensation and Equity, Sustainability and Environmental Justice Committees. For more information about Sen. Polanco, please visit https://www.cadizinc.com/board-of-directors/ .
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