Summary
Targa Resources Corp. announced significant changes to its Board of Directors and executive leadership structure. Effective January 1, 2021, the Board increased its size from twelve to thirteen members with the appointment of Paul W. Chung. Notably, Mr. Chung has also been appointed as the new Chairman of the Board, a key leadership role. This transition involves Mr. Joe Bob Perkins stepping down from his role as Executive Chairman, though he will continue to serve as a member of the Board. Mr. Chung's appointment as Chairman and his expanded role signify a continuation of experienced leadership within the company, given his extensive tenure and prior roles, including his recent position as Executive Vice President and Senior Legal Advisor since March 2020. Investors should view these changes as a strategic move to consolidate leadership and leverage internal expertise in guiding the company's future direction.
Key Highlights
- 1Board of Directors increased in size from twelve to thirteen members.
- 2Paul W. Chung appointed to the Board of Directors.
- 3Paul W. Chung appointed as Chairman of the Board, effective January 1, 2021.
- 4Joe Bob Perkins resigned as Executive Chairman, effective December 31, 2020.
- 5Joe Bob Perkins will continue to serve as a member of the Board.
- 6Paul W. Chung has served in senior legal and advisory roles at Targa Resources since 2005.
- 7Mr. Chung's appointment is not subject to any external arrangements requiring disclosure.