SemGroup Selects Executives, Directors

SemGroup LP selects a new chief executive officer, chief financial officer and board of directors to lead the company upon its emergence from Chapter 11 reorganization. SemGroup is expected to exit Chapter 11 in November and become a publicly traded company.
“The new management team and board will be comprised of the best and brightest members of the midstream energy industry,” said Terry Ronan, the company’s president and CEO during the company’s Chapter 11 reorganization. “Their experience, together with their many notable accomplishments, gives SemGroup a remarkable leadership team to execute its post Chapter 11 strategies and build value for its stakeholders.”
The new management team and board will be effective upon confirmation and implementation of SemGroup’s plan of reorganization. The U.S. Bankruptcy Court, District of Delaware, is scheduled to consider confirmation of the plan in October.
Norm Szydlowski has been selected president and chief executive officer. Szydlowski has more than 28 years of experience working in the transportation, management and production of refined fuel products. He most recently served as president and CEO of Colonial Pipeline Co. Prior to joining Colonial in 2006, Szydlowski was recruited by the Pentagon to aid the ongoing effort to rebuild the Iraqi Oil sector and served as a Senior Consultant to the Iraqi Ministry of Oil. Szydlowski has an MBA from Indiana University and a bachelor’s from Kettering University, formerly General Motors Institute.
Philip J. Reedy has been selected chief financial officer. Reedy most recently served as CFO of Citgo Petroleum Corp. where he was responsible for all of the traditional financial functions concerning general accounting, tax, treasury, and budgeting, as well as risk management.
Reedy has an MBA from the University of Miami and a bachelor’s from the University of Tulsa. He is also a CPA.
The company will file a motion with the court for authority to immediately retain Szydlowski and Reedy as consultants to work alongside Ronan for the remainder of the Chapter 11 restructuring. Szydlowski and Reedy are scheduled to attend the exit financing syndication meeting in New York on September 10.
John F. Chlebowski has been selected as SemGroup’s chairman. He will begin his tenure upon the company’s exit from Chapter 11 protection. Chlebowski serves as a Director of NRG Energy Inc., where he served as chairman of the Audit Committee from 2003 to 2008. He previously served as president and CEO of GATX Terminals. Chlebowski has an MBA from Pennsylvania State University and a bachelor’s from the University of Delaware.
In addition to Chlebowski and Szydlowski, the new board will consist of:
— Ronald A. Ballschmiede, executive vice president and CFO of Chicago Bridge & Iron Co. N.V.
— Sarah M. Barpoulis, president and founder of Interim Energy Solutions LLC.
— Stanley C. Horton, founder, principal owner and CEO of Semoran Holdings, LLC.
— Karl Frederick Kurz, COO of Anadarko Petroleum Corp.
— Thomas R. McDaniel, retired energy executive.
SemGroup, LP and certain subsidiaries filed voluntary petitions for Chapter 11 under the U.S. Bankruptcy Code on July 22, 2008.



Was this article helpful?

Related Articles

Leave A Comment?