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Economy

Sempra Energy Chief Executive Officer Debra Reed Named Chairman

Sempra Energy Chief Executive Officer Deborah Reed will become chairwoman on Dec. 1, 2012.
Sempra Energy Chief Executive Officer Deborah Reed will become chairwoman on Dec. 1, 2012.

Sempra Energy Chief Executive Officer Debra Reed will become chairwoman of the San Diego-based utility next month, all while retaining her CEO responsibilities, the company announced today.

Reed, who was promoted to CEO in June 2011, will succeed outgoing chairman Donald Felsinger on Dec. 1, according to a company statement. Felsinger, 65, is retiring after 40 years with Sempra, while the 56-year-old Reed has worked for the company for the past 34 years.

"In her year-and-a-half as CEO, Debbie Reed has helped Sempra Energy become a top performer in our industry," Felsinger said.

"She has sharpened our strategic focus and continued to build value for our shareholders. Our board and I believe that Debbie will be most effective in serving our shareholders and customers in the duel role of chairman and CEO."

Prior to becoming CEO, Reed served as Sempra's executive vice president. Before that, she was president and CEO of Sempra Energy's two largest subsidiaries, San Diego Gas & Electric and Southern California Gas Co.