Sempra Energy CEO Debra Reed on Thursday outlined the company’s strategy, which is centered around the surge in North American natural gas supplies, particularly from U.S. shale plays. Reed sees opportunity in Mexico, where Sempra already holds a big stake, as that country migrates from oil to natural gas use.
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San Diego-based Sempra Energy CEO Debra Reed, 56, has been elected chairman of the energy holding company to replace Donald Felsinger, 65, who retires at the end November after 40 years. Reed was named CEO last year and has worked for Sempra companies for the past 34 years (see Daily GPI, June 29, 2011). She previously worked for Sempra’s Southern California Gas Co. utility.
Shale Gas, Renewables ‘Here to Stay,’ Sempra CEO Says
Sempra Energy CEO Debra Reed on Thursday told financial analysts at a meeting her company hosted in San Diego that shale gas and renewables will be at the center of Sempra’s focus in the next few years.
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Sempra Energy named a new CEO, Debra Reed, 55, more than a year in advance of CEO Donald Felsinger’s mandatory retirement at age 65 late next year. A 33-year employee with the Sempra companies, Reed was also added to the board of directors where Felsinger will continue as executive chairman until his retirement. Sempra COO Neal Schmale will remain in his current role until his planned retirement later this year. Felsinger said the Sempra board early on identified Reed as a top candidate to succeed him, and with all of the business units “performing well financially, we felt the timing was ideal to begin our transition to a new generation of leadership at the company.” Reed had been executive vice president since April last year and was CEO of the Sempra California utilities before that. She is an engineering graduate from the University of Southern California in Los Angeles and began her career as a systems engineer with Sempra’s Southern California Gas Co. utility.
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San Diego-based Sempra Energy has promoted Debra Reed to a newly created executive vice president position at the holding company, reporting to Sempra CEO Donald Felsinger. Reed, 53, president and CEO of utilities San Diego Gas and Electric Co. (SDG&E) and Southern California Gas Co. (SoCalGas) since 2006, joined SoCalGas in 1978 as an energy systems engineer. From 1984 to 2006 she served in a series of positions at the utilities, including vice president of human resources and vice president of administrative services for SoCalGas; president of SoCalGas operations for residential, small-commercial and industrial customers; and CFO of SDG&E and SoCalGas. Also promoted were Jessie Knight Jr., who becomes CEO of SDG&E; Michael Niggli will be COO at the combination utility; Michael Allman will be the CEO of SoCalGas; Anne Smith will be COO of the gas utility; Jeffrey Martin will be CEO of Sempra Generation; and Steven Davis will become the holding company’s vice president of investor relations.
Sempra Shuffles Executives
San Diego-based Sempra Energy announced Wednesday a series of senior management moves. The top move was to promote the head of its two California utilities, Debra Reed, to a newly created executive vice president position at the holding company, reporting to Sempra CEO Donald Felsinger.