The board of directors of San Diego-based Sempra Energy announced Monday that CEO Jeffrey W. Martin will take on the additional role of chairman effective Dec. 1.
Martin, 56, has served as Sempra’s CEO since May and will succeed Debra L. Reed as chair when she retires.
“Early in his tenure as CEO, Jeff Martin has outlined a new strategy to focus on — and grow — Sempra Energy’s North American business,” said William C. Rusnack, lead independent director for Sempra Energy. “Jeff also has implemented important steps to further optimize the company’s diversified business portfolio. Our board of directors strongly believes Jeff will provide the leadership necessary to continue to create long-term value for our shareholders and other key stakeholders by serving in the dual role of chairman and CEO.”
Martin, a former president of San Diego Gas & Electric, has been an executive with Sempra for 13 years. He holds a bachelor’s degree from the United States Military Academy at West Point, a master’s degree in public administration from the University of Texas, El Paso, and a law degree from the University of Miami.
The energy services holding company is the largest in the United States with 20,000 employees and annual revenue of more than $11 billion.