By The Associated Press
Wednesday, September 9, 2009
SemGroup LP said Wednesday it named a new team of executives and board of directors to lead the energy company once it emerges from Chapter 11 bankruptcy protection.
SemGroup has been operating under bankruptcy protection since July last year. The provider of oil and asphalt transportation services said it plans to exit bankruptcy in November and become a publicly traded company.
A bankruptcy judge in Delaware will make a ruling on the new leadership team next month.
SemGroup said it named Norm Szydlowski as the company's next president and CEO. Szydlowski has held the same posts with Colonial Pipeline Co. since 2006.
Philip J. Reedy, chief financial officer of Citgo Petroleum, has been named CFO of SemGroup. John F. Chlebowski, a director of NRG Energy Inc. and former CEO of GATX Terminals, has been named chairman.
Along with Szydlowski and Chlebowski, the company also named five new members to its board to head the company post-bankruptcy.
