In a move that acknowledges its value to the company, Williams on Friday announced it will create a third business unit with its energy marketing and trading organizations, joining the company’s entrenched energy services and gas pipeline business segments. Marketing and trading had been part of the Tulsa company’s energy services group, and the change “should allow the investment community a better view of this segment of our company,” said Williams new President Steven J. Malcolm.

“As a prominent driver in Williams’ growth plans, this is a business that merits a commensurate place in our organizational structure,” Malcolm said.

Business segments remaining within Williams’ energy services group include midstream gas and liquids, petroleum services, exploration and production and international operations.

William Hobbs, who played a major role in advancing the trading and marketing group, was promoted to president and CEO of the new unit. Phillip D. Wright also was promoted to succeed Malcolm as president and CEO of the energy services unit after Malcolm was promoted to Williams’ president and COO on Thursday (see Daily GPI, Sept. 21). Though he did not offer details, Malcolm said other organizational changes would soon be announced.

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