SAN
DIEGO, Feb. 10, 2025 /PRNewswire/ --
Sempra (NYSE: SRE) today announced the appointments of
Anya Weaving and Kevin Sagara to the company's board of directors
effective March 1, 2025.
Weaving's extensive investment banking experience, where she
advised clients in the oil and gas industry on strategy, mergers
and acquisitions (M&A) and capital markets transactions,
combined with her previous role as a chief financial officer,
brings industry knowledge and critical skills in strategic
decision-making, financial acumen and governance to the board.
With over 30 years of experience in the energy sector, Sagara
brings demonstrated leadership and experience in both regulated
utility and non-regulated energy infrastructure operations,
including safety, regulatory, M&A, and other legal and
governance areas. As a corporate attorney, Sagara played a key role
in the merger that created Sempra in 1998.
"Incorporating new views and experience into our boardroom is
crucial to our mission of building the leading energy
infrastructure company in North
America," said Jeffrey W.
Martin, Sempra's chairman and CEO. "Anya's investment
banking experience and energy industry knowledge is a great
complement to the board as we advance our corporate strategy and
oversee financial discipline, risk management and ethical
practices. Similarly, Kevin's industry success cannot be
understated, having led innovations in safety, wildfire mitigation
and lower-carbon energy that have helped shape how we better serve
customers today and in the future."
Martin added, "In combination, their leadership experience in
strategy and capital markets brings critical insights and added
experience to our board, helping us deliver what is expected to be
a decisive decade of growth for our company."
Weaving also serves on the board of directors of APA
Corporation, where she is a member of the audit committee and the
corporate responsibility, governance and nominating committee. She
is the former vice chair of global natural resources, investment
banking for Bank of America. Prior to his retirement from Sempra in
2023, Sagara served as group president of Sempra California, where
he served as chair of San Diego Gas & Electric (SDGE) and
Southern California Gas Company. He previously held roles as CEO of
SDGE and president of Sempra Renewables.
With the appointments of Weaving and Sagara, Sempra will have 11
directors with four having been newly elected over the past five
years, reflecting the company's commitment to periodic board
refreshment to bring fresh and diverse perspectives into the
boardroom. Weaving will serve on the board's audit committee and
compensation and talent development committee. Sagara will serve on
the board's safety, sustainability and technology committee.
About Sempra
Sempra is a leading North American energy infrastructure company
focused on delivering energy to nearly 40 million consumers. As
owner of one of the largest energy networks on the continent,
Sempra is electrifying and improving the energy resilience of some
of the world's most significant economic markets, including
California, Texas, Mexico
and global energy markets. The company is recognized as a leader in
sustainable business practices and for its high-performance culture
focused on safety and operational excellence, as demonstrated by
Sempra's inclusion in the Dow Jones Sustainability Index North
America. More information about Sempra is available at
sempra.com and on social media @Sempra.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are based on assumptions about the
future, involve risks and uncertainties, and are not guarantees.
Future results may differ materially from those expressed or
implied in any forward-looking statement. These forward-looking
statements represent our estimates and assumptions only as of the
date of this press release. We assume no obligation to update or
revise any forward-looking statement as a result of new
information, future events or otherwise.
In this press release, forward-looking statements can be
identified by words such as "believe," "expect," "intend,"
"anticipate," "contemplate," "plan," "estimate," "project,"
"forecast," "envision," "should," "could," "would," "will,"
"confident," "may," "can," "potential," "possible," "proposed," "in
process," "construct," "develop," "opportunity," "preliminary,"
"initiative," "target," "outlook," "optimistic," "poised,"
"positioned," "maintain," "continue," "progress," "advance,"
"goal," "aim," "commit," or similar expressions, or when we discuss
our guidance, priorities, strategy, goals, vision, mission,
opportunities, projections, intentions or expectations.
Factors, among others, that could cause actual results and
events to differ materially from those expressed or implied in any
forward-looking statement include: California wildfires, including potential
liability for damages regardless of fault and any inability to
recover all or a substantial portion of costs from insurance, the
wildfire fund established by California Assembly Bill 1054, rates
from customers or a combination thereof; decisions, audits,
investigations, inquiries, regulations, denials or revocations of
permits, consents, approvals or other authorizations, renewals of
franchises, and other actions, including the failure to honor
contracts and commitments, by the (i) California Public Utilities
Commission (CPUC), Comisión Reguladora de Energía, U.S. Department
of Energy, U.S. Federal Energy Regulatory Commission, U.S. Internal
Revenue Service, Public Utility Commission of Texas and other regulatory bodies and (ii)
U.S., Mexico and states, counties,
cities and other jurisdictions therein and in other countries where
we do business; the success of business development efforts,
construction projects, acquisitions, divestitures, and other
significant transactions, including risks related to (i) being able
to make a final investment decision, (ii) completing construction
projects or other transactions on schedule and budget, (iii)
realizing anticipated benefits from any of these efforts if
completed, (iv) obtaining third-party consents and approvals and
(v) third parties honoring their contracts and commitments;
macroeconomic trends or other factors that could change our capital
expenditure plans and their potential impact on rate base or other
growth; litigation, arbitration, property disputes and other
proceedings, and changes (i) to laws and regulations, including
those related to tax and trade policy and the energy industry in
Mexico and (ii) due to the results
of elections; cybersecurity threats, including by state and
state-sponsored actors, of ransomware or other attacks on our
systems or the systems of third parties with which we conduct
business, including the energy grid or other energy infrastructure;
the availability, uses, sufficiency, and cost of capital resources
and our ability to borrow money or otherwise raise capital on
favorable terms and meet our obligations, including due to (i)
actions by credit rating agencies to downgrade our credit ratings
or place those ratings on negative outlook, (ii) instability in the
capital markets, or (iii) fluctuating interest rates and inflation;
the impact on affordability of San Diego Gas & Electric
Company's (SDG&E) and Southern California Gas Company's
(SoCalGas) customer rates and their cost of capital and on
SDG&E's, SoCalGas' and Sempra Infrastructure's ability to pass
through higher costs to customers due to (i) volatility in
inflation, interest rates and commodity prices, (ii) with respect
to SDG&E's and SoCalGas' businesses, the cost of meeting the
demand for lower carbon and reliable energy in California, and (iii) with respect to Sempra
Infrastructure's business, volatility in foreign currency exchange
rates; the impact of climate policies, laws, rules, regulations,
trends and required disclosures, including actions to reduce or
eliminate reliance on natural gas, increased uncertainty in the
political or regulatory environment for California natural gas distribution companies,
the risk of nonrecovery for stranded assets, and uncertainty
related to emerging technologies; weather, natural disasters,
pandemics, accidents, equipment failures, explosions, terrorism,
information system outages or other events, such as work stoppages,
that disrupt our operations, damage our facilities or systems,
cause the release of harmful materials or fires or subject us to
liability for damages, fines and penalties, some of which may not
be recoverable through regulatory mechanisms or insurance or may
impact our ability to obtain satisfactory levels of affordable
insurance; the availability of electric power, natural gas and
natural gas storage capacity, including disruptions caused by
failures in the transmission grid, pipeline system or limitations
on the injection and withdrawal of natural gas from storage
facilities; Oncor Electric Delivery Company LLC's (Oncor) ability
to reduce or eliminate its quarterly dividends due to regulatory
and governance requirements and commitments, including by actions
of Oncor's independent directors or a minority member director; and
other uncertainties, some of which are difficult to predict and
beyond our control.
These risks and uncertainties are further discussed in the
reports that Sempra has filed with the U.S. Securities and Exchange
Commission (SEC). These reports are available through the EDGAR
system free-of-charge on the SEC's website, www.sec.gov, and on
Sempra's website, www.sempra.com. Investors should not rely unduly
on any forward-looking statements.
Sempra Infrastructure, Sempra Infrastructure Partners, Sempra
Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética
Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the
California utilities, SDG&E or
SoCalGas, and Sempra Infrastructure, Sempra Infrastructure
Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova
are not regulated by the CPUC.
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SOURCE Sempra
