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Sempra Energy president/CEO to retire; successors named

Debra Reed is retiring as president and CEO of Sempra Energy on May 1. She will remain as chairman and a member of the company's board of directors until her retirement from the company Dec. 1.

Reed agreed to be available to consult with senior executives and board members after her retirement, according to a Form 8-K filed March 12.

The company named Jeffrey Martin as the next CEO and Joseph Householder as the next president, effective May 1. On that date, Martin will also join the board, increasing the number of directors to 14 from 13.

Currently, Martin is executive vice president and CFO and Householder is corporate group president — infrastructure businesses of Sempra. Both will cease serving in their current roles upon assuming their new positions.

The development follows Sempra's March 9 announcement that it completed its acquisition of Energy Future Holdings Corp. and its 80% ownership interest in Oncor Electric Delivery Co. LLC.