SAN DIEGO – The board of directors of Sempra Energy announced Wednesday that CEO Jeffrey W. Martin has been elected chairman of the company, effective Dec. 1. Martin will succeed Debra L. Reed, who is retiring from Sempra Energy Dec. 1, as previously announced.
Martin, 56, has served as Sempra Energy’s CEO since May.
“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.”
In his 13 years with the Sempra Energy family of companies, Martin has held a variety of increasingly responsible leadership positions. Prior to becoming Sempra Energy’s CEO in May, he was executive vice president and chief financial officer of Sempra Energy. Previously, from 2014 through 2016, Martin was CEO of San Diego Gas & Electric (SDG&E). From 2010 through 2013, Martin was president and CEO of Sempra U.S. Gas & Power and Sempra Generation, the predecessor companies of Sempra Energy’s renewable energy and midstream businesses. Prior to that, he was vice president of investor relations for Sempra Energy. He first joined Sempra Energy in 2004 as a principal working in Sempra Energy’s mergers and acquisitions group.
Prior to joining Sempra Energy, Martin was chief financial officer of NewEnergy, Inc. He also previously served as corporate counsel at UniSource Energy and was an attorney at the law firm of Snell & Wilmer, focusing on corporate and commercial finance and real estate.
Martin currently serves on the board of directors of Oncor Electric Delivery Company LLC. He also is on the Business Roundtable and the board of trustees of the University of San Diego. Martin recently served on the boards of directors of the Edison Electric Institute, California Chamber of Commerce and National Association of Manufacturers.
Martin 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.
Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies’ approximately 20,000 employees serve more than 40 million consumers worldwide.