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Sempra Energy reveals succession plan, Debra Reed to step down in May

"Over many years, our board of directors has led a robust leadership succession planning effort and today's announcement of new officer elections reflects the successful implementation of this planning”
directors in a meeting
Reed steps down in May before retiring in December

Sempra Energy (NYSE:SRE) has revealed its management succession plan, which will see chief executive Debra Reed step down from her position as chief executive.

Reed will be replaced on May 1 by Jeffery Martin, presently the energy services group’s chief financial officer, though she will remain with the company as executive chairperson until she leaves the company entirely in December.

READ: Sempra Energy boasts of “outstanding” performance but Trump tax changes dent earnings

It will bring to an end a 40-year career with the company.

"Last month, I reached my 40th year in the Sempra Energy family of companies," Reed said in a statement.

"We are close to concluding several of our major growth initiatives, such as expanding in Texas with our acquisition of a majority interest in Oncor and the anticipated launch of our liquefied natural gas (LNG) export business in Louisiana next year.

“We have established a strong growth engine in Mexico with our IEnova subsidiary. Our California and South America utilities continue to perform at a very high level, providing safe and reliable service to their millions of customers and innovating to adapt to future market needs.

"Over many years, our board of directors has led a robust leadership succession planning effort and today's announcement of new officer elections reflects the successful implementation of this planning.”



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