8-KLeadership Changes

Targa Resources Corp. 8-K Report, Executive Changes (Feb 5, 2018)

Filed February 5, 2018For Securities:TRGP

Summary

Targa Resources Corp. announced a significant leadership transition effective March 1, 2018, as detailed in their February 5, 2018, 8-K filing. The key change is the appointment of Matthew J. Meloy, previously Executive Vice President and Chief Financial Officer, to the role of President of the Company. This internal promotion reflects Mr. Meloy's extensive experience within Targa Resources, having held various finance and development roles since 2006. In addition to Mr. Meloy's new role, the company also appointed three other executives to divisional President positions and a new Chief Financial Officer. Patrick J. McDonie will become President—Gathering and Processing, D. Scott Pryor will lead Logistics and Marketing as President, and Robert M. Muraro has been named Chief Commercial Officer. Jennifer R. Kneale, formerly Vice President—Finance, will succeed Mr. Meloy as Chief Financial Officer, also effective March 1, 2018. These appointments indicate a strengthening of the executive team and a focus on operational and commercial leadership within Targa's key segments.

Key Highlights

  • 1Matthew J. Meloy appointed President of Targa Resources, effective March 1, 2018, transitioning from EVP and CFO.
  • 2Patrick J. McDonie appointed President—Gathering and Processing, effective March 1, 2018.
  • 3D. Scott Pryor appointed President—Logistics and Marketing, effective March 1, 2018.
  • 4Robert M. Muraro appointed Chief Commercial Officer, effective March 1, 2018.
  • 5Jennifer R. Kneale appointed Chief Financial Officer, effective March 1, 2018, replacing Matthew J. Meloy.
  • 6All appointed executives have significant tenures and experience within Targa Resources or its predecessors/subsidiaries.

Frequently Asked Questions

This 8-K filing announces significant changes in Targa Resources Corp.'s executive leadership team, including promotions and the appointment of a new President and Chief Financial Officer, effective March 1, 2018.

Matthew J. Meloy, who previously served as Executive Vice President and Chief Financial Officer, has been appointed as the new President of Targa Resources, effective March 1, 2018.

Jennifer R. Kneale, previously Vice President—Finance, has been appointed as the new Chief Financial Officer, effective March 1, 2018. She will succeed Matthew J. Meloy in this role.

No, all the individuals appointed to new roles have extensive experience within Targa Resources or its subsidiaries, indicating internal promotions and restructuring rather than external hires.