Sempra Energy named Cynthia L. Walker and Michael N. Mears to its board of directors on Oct. 11.
The directors were named in cooperation with activist investors Elliott Management, Bluescape Resources and Cove Key Management. In September, Sempra said it agreed to work with the investor group.
As part of the agreement, Walker and Mears will join with three other Sempra directors, William C. Rusnack, James C. Yardley and Alan L. Boeckmann, to conduct a review of Sempra’s businesses as part of the board’s LNG and Business Development Committee. The activist shareholders called for such a review in June, saying Sempra should get back to its core businesses. The initials LNG refer to liquefied natural gas.
Walker, 42, is senior vice president of marketing and midstream operations and development for Occidental Petroleum.
Mears, 55, is chairman, president and CEO of Magellan Midstream Partners.
The term “midstream” refers to the transportation, storage and wholesale marketing of petroleum products.
“Our strategic vision is to become North America’s premier energy infrastructure company,” said Jeff Martin, CEO of Sempra Energy. “With their considerable management experience in the energy industry, especially in the midstream sector, Cynthia Walker and Mike Mears will add critical depth and experience to our board as we continue to expand our energy infrastructure businesses.”