SAN DIEGO, Nov. 11, 2004 (PRIMEZONE) -- As part of its ongoing management succession plan, Sempra Energy (NYSE:SRE) today announced three key executive appointments. Randall Peterson has been named chief compliance officer, a new position created to oversee the company's business conduct and legal compliance programs; Matt Burkhart has been named vice president of audit services, supervising the internal audit practices of Sempra Energy and its subsidiaries; and Michael Allman has been named chief financial officer of Sempra Energy Global Enterprises, the umbrella organization for Sempra Energy's businesses operating in competitive energy and commodity markets.
"These appointments are part of our ongoing management succession plan to develop and maintain a talented management team with diverse skill sets," said Donald E. Felsinger, president and chief operating officer of Sempra Energy.
Peterson, 49, who will report to Felsinger, previously served as vice president of human capital services supervising payroll, human resource information technology, executive and employee development, and compliance-training programs. Peterson joined the company in 1984 and was director of audit services for Sempra Energy from 1998 to 2001 and at Pacific Enterprises, the parent company of Southern California Gas Co., from 1995 to 1998. He holds a bachelor's degree in accounting from San Diego State University and several accounting and auditing certifications.
Burkhart, 46, who most recently served as vice president of planning and development for Sempra Energy Global Enterprises, will report to the audit committee of the Sempra Energy board of directors. In his previous role, he oversaw strategic planning, mergers and acquisitions, and investment analysis. He also served as director of corporate economics for Sempra Energy from 1999 to 2000. Prior to joining Sempra Energy in 1999, Burkhart worked at Booz-Allen & Hamilton, a management-consulting firm, and at Unocal's refining and marketing subsidiary, 76 Products Co. He holds a master's degree in economics from Harvard University and a bachelor's degree in economics and Russian studies from Claremont McKenna College.
Allman, 44, most recently served as vice president of audit services for Sempra Energy. He will assume the previous position of Mark Snell, who in August 2004 was promoted to group president of Sempra Energy Global Enterprises. Previously, Allman was president of Sempra Technology Ventures, where he focused on pilot programs in telecommunications and technology. Allman joined Sempra Energy in 1998 as vice president of corporate planning and development from LEK/Alcar, a strategic and financial consulting services firm. He holds a master's degree in business administration from the University of Chicago Graduate School of Business and a bachelor's degree in chemical engineering from Michigan State University. He also holds several accounting and auditing certifications.
In June 2004, Sempra Energy announced that Felsinger was promoted to president and chief operating officer of the company and named to the board of directors, along with Neal Schmale, chief financial officer. Stephen L. Baum, chairman and chief executive officer, is scheduled to retire from the company at the end of January 2006, at which time, Felsinger is slated to become chief executive officer and, Schmale, chief operating officer.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2003 revenues of $7.9 billion. The Sempra Energy companies' 13,000 employees serve more than 10 million customers in the United States, Europe, Canada, Mexico, South America and Asia.
This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When the company uses words like "believes," "expects," "anticipates," "intends," "plans," "estimates," "may," "would," "should" or similar expressions, or when the company discusses its strategy or plans, the company is making forward-looking statements. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others: national, international, regional and local economic, competitive, political, legislative and regulatory conditions and developments; actions by the California Public Utilities Commission, the California State Legislature, the California Department of Water Resources, the Federal Energy Regulatory Commission and other regulatory bodies in the United States and other countries; capital market conditions, inflation rates, interest rates and exchange rates; energy and trading markets, including the timing and extent of changes in commodity prices; the availability of natural gas; weather conditions and conservation efforts; war and terrorist attacks; business, regulatory, environmental, and legal decisions and requirements; the pace of deregulation of retail natural gas and electricity delivery; the timing and success of business development efforts; and other uncertainties, all of which are difficult to predict and many of which are beyond the company's control. These risks and uncertainties are further discussed in the company's reports filed with the Securities and Exchange Commission that are available through the EDGAR system without charge at its Web site, www.sec.gov and on the company's Web site, www.sempra.com .