SAN DIEGO, Aug. 4, 2004 (PRIMEZONE) -- Mark A. Snell has been named group president of Sempra Energy Global Enterprises, overseeing Sempra Energy's businesses operating in competitive energy markets, including energy trading, electric generation, liquefied natural gas, pipelines and storage facilities, international utilities and retail energy marketing.
Snell, 47, succeeds Donald E. Felsinger, who was promoted in June 2004 to become Sempra Energy's president and chief operating officer after spending six years as group president of Sempra Energy Global Enterprises. Previously, Snell served as chief financial officer of Sempra Energy Global Enterprises group since 2002. He joined Sempra Energy in 2001 as vice president of planning and development.
"Mark Snell has helped chart a successful growth strategy for the Sempra Energy Global Enterprises group of companies since he joined the company," said Felsinger. "He will serve a critical role in the future, identifying new market opportunities as Sempra Energy Global Enterprises continues to expand its global presence."
Snell's appointment is part of Sempra Energy's ongoing management succession plan, as Chairman and Chief Executive Officer Stephen L. Baum approaches his planned retirement in January 2006. Felsinger is slated to succeed Baum as chief executive officer in February 2006, when Neal E. Schmale, Sempra Energy's chief financial officer, is expected to become chief operating officer.
Prior to joining Sempra Energy in 2001, Snell served as executive vice president and chief financial officer of Earth Tech, a Long Beach, Calif.-based provider of consulting, engineering and construction services for the transportation, water/wastewater, facilities and environmental markets. Previously, Snell served as the chief financial officer of Dames and Moore, an international engineering and construction firm based in Los Angeles. Snell holds a bachelor's degree in accounting from San Diego State University and is a certified public accountant.
The Sempra Energy Global Enterprises group includes Sempra Energy Trading, Sempra Energy Resources, Sempra Energy LNG, Sempra Energy International, Sempra Energy Solutions and Sempra Energy Partners.
Sempra Energy (NYSE:SRE), based in San Diego, is a Fortune 500 energy services holding company with 2003 revenues of $7.9 billion. The Sempra Energy companies' nearly 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 and the Federal Energy Regulatory Commission; capital market conditions, inflation rates and interest rates; energy and trading markets, including the timing and extent of changes in commodity prices; weather conditions; business, regulatory and legal decisions; 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.
Sempra Energy Trading, Sempra Energy Resources, Sempra Energy International, Sempra Energy Solutions and Sempra Energy Partners are not the same as the utilities, San Diego Gas & Electric and Southern California Gas Co.