News Release
Agency indicates assistant GM to take over
At the regular Santa Clarita Valley Water Agency board of directors meeting Tuesday, SCV Water General Manager Matt Stone formally announced his plans to retire after 10 years of service. His contract with the board of directors extends through July 31, 2026. Additionally, the board took action to designate SCV Water Assistant General Manager Steve Cole to serve as the next general manager, effective upon Stone’s retirement next July.
“I am deeply grateful for the opportunity to serve this community and help establish SCV Water,” Stone said in an SCV Water news release. “Finding the right time to retire in the larger context of one’s life is a balance of many factors, and it is an even greater challenge because I have enjoyed being a part of SCV Water and enjoy the people I work with so much. But I leave knowing the agency is strong, stable, and positioned for continued success.”
Stone was appointed as the general manager of the former Castaic Lake Water Agency in December 2015, with a goal to work with the Newhall County Water District, where Cole was general manager, on the shared vision of creating a single water agency serving the Santa Clarita Valley. The process took two years and the passing of state legislation (Senate Bill 634 by then-Sen. Scott Wilk), and in January 2018, SCV Water launched.
The release listed the following highlights and accomplishments of Stone’s tenure:
- Leadership & Agency Formation: Helped to guide the complex, multi-year effort to form SCV Water, including public engagement, negotiations, and support for the passage of SB 634.
- Water Quality & Remediation: Recovered over $80 million in the Whittaker perchlorate/VOC litigation and related settlements and arbitration rulings.
- Formed the Agency’s PFAS (per- and polyfluoroalkyl substances) response team and implemented the first ion exchange PFAS drinking water treatment solution in California as a fast-track project during COVID.
- Strategic Planning & Governance: Oversaw development of SCV Water’s mission, vision, values, and strategic objectives in 2019 and the subsequent five-year update in 2024; worked effectively with evolving board of director structures to support the transition to a nine-member elected board by January 2023.
- Financial Strength: Supported integration of financial systems, a single agency budget and financial reporting, and uniform retail water rates. The agency achieved an upgrade to its bond credit ratings from both Fitch and Standard & Poor’s and refinanced capital debt at historically low interest rates in 2020, enhancing long-term financial resiliency.
- Operational Resilience: Guided the agency through the COVID-19 period while maintaining service reliability and completing critical projects to enhance safety, emergency planning and security functions
- Industry Recognition: During his tenure, SCV Water has received numerous industry awards in areas such as budgeting and financial reporting, safety, communication, public transparency, projects and performance, including the 2023 Association of California Water Agencies’ Clair A. Hill Award of Excellence.
“I want to thank Matt for his steady and experienced guidance,” SCV Water Board President Maria Gutzeit said in the release. “He took the vision we had to create a regional full-service water agency and helped make it a reality. The formation of SCV Water was a monumental achievement in the way we serve water to the Santa Clarita Valley. We wish him the best in retirement.”
With Cole named as Stone’s successor, the agency enters a roughly eight-month period focused on a smooth operational transition. With this strategy in place, the board of directors and management team are using the opportunity to work collaboratively to ensure strong succession planning, organizational stability, and thoughtful preparation for the agency’s future, the release said.
“We are excited for Steve Cole to step into the general manager role. He played an essential role in the formation of the new agency and has been a key part of the management team, responsible for many critical aspects of our agency,” added Gutzeit. “On behalf of the SCV Water board of directors, I want to extend our congratulations to Steve. He is savvy in the face of challenges, experienced in this community, and an excellent choice to lead the agency onward to its next chapter.”
“Steve has been a trusted partner from day one, and he brings a clear understanding of the agency’s vision and priorities. SCV Water will be in excellent hands under his leadership,” Stone said in the release.
Cole has more than 25 years of water industry experience, previously serving 13 years as general manager of the former Newhall County Water District, overseeing all operations and management. In his role at SCV Water, Cole has been instrumental in managing successful strategies to recover funds from responsible parties for groundwater cleanup, local watershed sustainability and water supply reliability.
“I am honored to be appointed to the general manager position, and I want to congratulate Matt Stone on his well-deserved retirement,” Cole said in the release. “I appreciate this transitional period, preparing for the agency’s future while ensuring organizational stability.”
He added, “I am committed to ensuring that SCV Water remains a best-in-class Agency and a great place to work with a welcoming and supportive culture. I also remain focused on achieving our mission to provide responsible water stewardship to ensure the Santa Clarita Valley has reliable, high-quality water at a reasonable cost.”
