Sempra Energy said Monday Chief Executive Debra Reed will step down as CEO on May 1, but will remain as executive chairman until she retires on Dec. 1, 2018 after over 40 years with the company. The San Diego-based energy services company said current Chief Financial Officer Jeffrey Martin will succeed Reed as CEO on May 1. Reed joined Sempra Energy in 1978, and was named CEO in 2011 and chairman in 2012. The stock, which was still inactive in premarket trade, has slipped 0.3% over the past 12 months, while the SPDR Utilities Select Sector ETF has declined 3.1% and the S&P 500 has gained 17.5%.
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