Sempra Energy’s Board Names New Top Executives

Sempra Energy’s board of directors Wednesday named Donald Felsinger chief executive to replace retiring Stephen Baum on Jan. 1.

The company, which owns Southern California Gas Co. and San Diego Gas & Electric Co., initially announced the succession plan in June 2004.

Felsinger, 58, has been president and chief operating officer of Sempra since June 2004, the San Diego-based company said. Felsinger also will become chairman Feb. 1.

Felsinger previously was group president of Sempra Global, leading the company’s expansion into power generation, energy trading and liquefied natural-gas development, Sempra said.

The board also named Neal E. Schmale, 59, to succeed Felsinger as chief operating officer. Schmale, who is executive vice president and chief financial officer, also will become president Feb. 1. Mark A. Snell, 49, was appointed finance chief.

We “are pleased that we have made excellent progress in implementing our executive succession plan,” Baum said. “This has enabled us to accelerate the transition to Don Felsinger and our new management team, who will continue to lead the successful execution of our growth strategy.”

Shares of the energy company fell 39 cents to $44.25.