Questar Chairman, President and CEO Ron Jibson to Retire upon Close of Dominion Resources Merger
April 27 2016 - 9:00AM
Business Wire
Questar Corporation’s (NYSE:STR) board of directors today
announced that Chairman Ronald W. Jibson intends to retire upon the
completion of the company’s merger with Dominion (NYSE:D). Jibson
also serves as president and chief executive officer of the Salt
Lake City-based integrated energy company, which announced on Feb.
1, 2016, it is combining with Virginia-based Dominion. Subject to
shareholder and regulatory approvals, the transaction is expected
to be completed during 2016.
Jibson will retire as Questar’s chairman after serving since
July 2012. He has been Questar’s president and CEO since July 2010.
Prior to that, he was an executive vice president of the
corporation and president of its utility subsidiary, Questar Gas
Company, which serves about 1 million customers in Utah, southern
Idaho and southwestern Wyoming. Jibson has held several Questar
executive and management positions since starting with the company
as a design engineer in 1980.
“On behalf of Questar’s board and shareholders, I’d like to
thank Ron for his years of service as Questar’s chairman and CEO,
and for his long career with Questar, which he has been
instrumental in building into one of the nation’s premier energy
firms,” said Harris H. Simmons, Questar’s lead director and Zions
Bancorporation’s chairman and CEO. “Ron has led Questar with great
integrity, and he’s been both a driving force for economic
development and a deeply engaged community leader in the
Intermountain West.”
“It’s been the opportunity of a lifetime to help lead Questar
over the past several years,” Jibson said. “I’m proud to have
worked with employees who have so successfully operated one of the
nation’s most respected energy companies. The fact that another
top-tier company sees the benefits of combining forces is evidence
of their hard work. I look forward to helping complete our
combination with Dominion, and I’m confident it will be great for
our customers, employees, shareholders and the communities we
serve.”
“Ron is widely admired for his distinguished record of
leadership at Questar, the energy industry and the community,” said
Thomas F. Farrell II, chairman, president & CEO of Dominion.
“He has worked tirelessly and with the highest level of integrity
throughout his career to achieve outstanding results, while holding
true to the public service tradition of our business. We at
Dominion feel honored to work with Ron on our historic business
combination and we wish him all the best as he moves to the next
chapter in his life.”
About Questar Corporation
Questar is a Rockies-based integrated natural gas company,
operating through three principal subsidiaries: Questar Gas
Company provides retail natural gas distribution in Utah,
Wyoming and Idaho; Wexpro Company develops and produces
natural gas from cost-of-service reserves for Questar Gas
customers; and Questar Pipeline Company operates
interstate natural gas pipelines and storage facilities in the
western U.S. and provides other energy services.
About Dominion
Dominion is one of the nation's largest producers and
transporters of energy, with a portfolio of approximately 24,300
megawatts of generation, 12,200 miles of natural gas transmission,
gathering and storage pipeline, and 6,500 miles of electric
transmission lines. Dominion operates one of the nation's largest
natural gas storage systems with 933 billion cubic feet of storage
capacity, and serves utility and retail energy customers in 14
states. For more information about Dominion, visit the company's
website at www.dom.com.
Additional information and where to find it
This communication may be deemed to be solicitation material in
respect of the merger of Questar and a subsidiary of Dominion. In
connection with the merger, Questar filed a definitive proxy
statement with the Securities and Exchange Commission (the “SEC”)
on April 5, 2016 and intends to file other relevant materials with
the SEC. Investors of Questar are urged to read the definitive
proxy statement and other relevant documents carefully and in their
entirety because they contain important information about Dominion,
Questar, the merger and related matters. Investors may obtain a
free copy of these materials and other documents filed by Questar
with the SEC at the SEC’s website at www.sec.gov, at Questar’s
website at www.questar.com or by sending a written request to
Questar at Questar Corporation, Corporate Secretary, 333 South
State St., P.O. Box 45433, Salt Lake City, UT 84145-0433. Security
holders also may read and copy any reports, statements and other
information filed by Questar with the SEC, at the SEC public
reference room at 100 F Street, N.E., Washington, D.C. 20549.
Please call the SEC at 1-800-SEC-0330 or visit the SEC’s website
for further information on its public reference room.
Participants in the solicitation
Dominion, Questar and certain of their respective directors,
executive officers and other persons may be deemed to be
participants in the solicitation of proxies in respect of the
transaction. Information regarding Dominion’s directors and
executive officers is available in Dominion’s proxy statement filed
with the SEC on March 22, 2016, in connection with its 2015 annual
meeting of stockholders, and information regarding Questar’s
directors and executive officers is available in Questar’s proxy
statement filed with the SEC on April 17, 2015, in connection with
its 2015 annual meeting of shareholders. Other information
regarding persons who may be deemed participants in the proxy
solicitation and a description of their direct and indirect
interests, by security holdings or otherwise, is contained in the
proxy statement and other relevant materials filed with the
SEC.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160427005931/en/
Questar CorporationInvestors: Tony Ivins, 801-324-5218Media:
Chad Jones, 801-324-5495
Dominion Energy (NYSE:D)
Historical Stock Chart
From Aug 2024 to Sep 2024
Dominion Energy (NYSE:D)
Historical Stock Chart
From Sep 2023 to Sep 2024