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United States. Securities and Exchange Commission

Southern California Gas Company Announces Leadership Transition

Strategic Insights

— 1 min read

As of August 1, 2020, J. Bret Lane will retire as Chief Executive Officer and a director of SoCalGas, a subsidiary of Sempra Energy, marking the end of his 30-year tenure with the company. Incoming CEO Scott D. Drury will assume the role, bringing with him over 30 years of experience with the Sempra Energy family of companies and a deep understanding of the energy industry. Drury will also take on the position of President of SoCalGas, replacing Lane.

Key Takeaways:

  • J. Bret Lane, 60, will retire as Chief Executive Officer and a director of SoCalGas effective August 1, 2020, after a 30-year tenure with the company.
  • Scott D. Drury, 55, will assume the role of Chief Executive Officer and a director of SoCalGas effective August 1, 2020, as well as the position of President of SoCalGas.
  • Drury has more than 30 years of experience with the Sempra Energy family of companies and a broad understanding of the energy industry.
  • Drury's annual salary will increase to $600,000, and he will receive a $100,000 cash bonus upon appointment.
  • Drury will remain eligible for the same levels of annual long-term equity-based incentive awards and performance-based cash bonuses as he currently receives as the President of SDG&E.
  • Lane has served as the Chairman of SoCalGas since June 27, 2020, and Drury will assume this role as well upon appointment.

Statistics:

  • 30 years: J. Bret Lane's tenure with SoCalGas
  • 55: Scott D. Drury's age
  • 60: J. Bret Lane's age at retirement
  • $600,000: Scott D. Drury's annual salary as a result of his appointment as Chief Executive Officer of SoCalGas
  • $100,000: The cash bonus Scott D. Drury will receive upon appointment as Chief Executive Officer of SoCalGas
  • 190%: Drury's target for annual long-term equity-based incentive awards
  • 70%: Drury's target performance-based cash bonus as a percentage of his annual salary

Sources:

  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549

FORM 8-K CURRENT REPORT, form filed by Southern California Gas Company on June 23, 2020, for the report dated June 18, 2020.

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