Sempra Infrastructure, a subsidiary of North America’s energy infrastructure company Sempra, has revealed the name of its incoming Chief Executive Officer (CEO), who will be at the helm of the company upon completion of a KKR-led consortium’s acquisition of a majority ownership interest.
Sempra Infrastructure has confirmed that Bhavesh Bob Patel has been named the incoming CEO, who will assume this role and join the firm’s board of directors upon the closing of a KKR-led consortium’s previously announced acquisition of a majority ownership interest in the company.
Patel highlighted: “Sempra Infrastructure is well positioned to help meet growing global demand for reliable energy resources and I have been impressed by what Justin and the team have built.
“The company has established a leading energy infrastructure platform in North America, supported by a talented team and a culture grounded in safety and execution. I look forward to building on that momentum in the years ahead.”
As a result, Justin Bird will continue to serve as Chairman of the board of directors and Chief Executive Officer of the U.S. player through the close of the acquisition, after which he will continue to serve as Executive Vice President at Sempra, while also serving on Sempra Infrastructure’s board of directors.
With nearly forty years of leadership experience across the global chemicals and energy sectors, Patel most recently served as President of Standard Industries and previously as Chief Executive Officer of LyondellBasell.
Throughout his career, the incoming CEO has led large, complex and geographically diverse organizations across the Americas, Europe and Asia, with deep expertise in operational leadership and long-term value creation.
Bird emphasized: “Bob is a highly accomplished and respected global executive with deep experience leading complex energy, chemicals and industrial businesses.
“He brings a strong track record of building high-performing organizations, driving operational excellence and executing disciplined growth strategies, and we believe he is the right leader to guide Sempra Infrastructure in its next chapter of growth and build on the strong foundation the team has created.”
The leadership transition comes as a KKR-led consortium prepares to acquire a majority ownership interest in Sempra Infrastructure to hold a 65% equity stake, while Sempra will retain a 25% interest alongside Abu Dhabi Investment Authority’s (ADIA) existing 10% stake.
James Cunningham , Partner at KKR, underlined: “Over the past few years, we have developed a strong and strategic partnership with the Sempra Infrastructure team and have tremendous respect for the business they have built.
“Bob’s experience leading large-scale global organizations makes him exceptionally well-suited to lead the company forward and help accelerate its long-term growth.”
Meanwhile, Sempra Infrastructure is continuing to develop its portfolio, as illustrated by its joint venture with TotalEnergies, which recently achieved first LNG production at the ECA LNG Phase 1 liquefaction project in Mexico.