Targa Resources tabs CEO, makes other management moves

August 1, 2019 By    

Targa Resources Corp. named its current president, Matthew Meloy, CEO and a member of the board of directors as part of several management moves, effective March 1, 2020.

Joe Bob Perkins, the company’s current CEO, will stay on as a member of the management team and will become the executive chairman of the board of directors. James Whalen, the current executive chairman, will retire from the management team but continue to serve on the board of directors.

The management moves, the company says, are part of the ongoing management succession plan developed and approved by Targa’s board of directors.

“It has been an honor and a privilege to work with the tremendous Targa team over the past 16 years, building this remarkable industry-leading midstream company,” Perkins says.

Perkins was the founding president of Targa and its predecessor companies from inception in 2003. He also served as CEO since 2012.

“Matt is ready for and largely already performing his next role, and I look forward to continuing to work with him and the executive team as executive chairman,” Perkins says. “I would also like to thank Jim Whalen for his dedicated service and invaluable contributions on the management team since 2005 and as a member of our board of directors since Targa’s inception. He is a trusted friend and a wise business partner and adviser.”

Meloy served as president since March 2018, after acting as CFO of the company from October 2010 until March 2018. He also worked as vice president of finance and treasurer of the company between April 2008 and October 2010, and as director of corporate development between March 2006 and March 2008.

“I am honored to have worked with Joe Bob, Jim and the Targa team over the last 13 years. We have terrific employees and have developed a strong and growing asset position,” Meloy says. “I am excited about Targa’s future as our Grand Prix Pipeline begins full operations shortly, realizing the long-run strategic goal of integrating our leading gathering and processing position with our premier NGL logistics, fractionation and export platform. Alongside our executive team, board of directors and employees, I am committed to continuing Targa’s success as a premier integrated energy infrastructure company.”

*Featured image: iStock.com/arthobbit

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About the Author:

Joe McCarthy was an associate editor at LP Gas Magazine.

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