Press release from Business Wire
UGI announces that Lon R. Greenberg will retire as Chief Executive Officer effective April 1, 2013
Tuesday, March 05, 2013
UGI announces that Lon R. Greenberg will retire as Chief Executive Officer effective April 1, 201317:00 EST Tuesday, March 05, 2013
VALLEY FORGE, Pa. (Business Wire) -- UGI Corporation (NYSE: UGI) today announced that Lon R. Greenberg will
retire as Chief Executive Officer effective April 1, 2013. As previously
announced, Mr. Greenberg will continue to serve UGI as non-executive
Chairman of its Board of Directors. Mr. Greenberg will also serve as
non-executive Chairman of the Boards of Directors of AmeriGas Propane,
Inc. and UGI Utilities, Inc.
John L. Walsh, UGI's President and Chief Operating Officer, will be
named President and Chief Executive Officer of UGI effective April 1,
2013. Lon R. Greenberg, Chairman and Chief Executive Officer of UGI
said, “John is an exceptional executive and proven leader. I am thrilled
that he will succeed me as CEO and I look forward to the company's
continued success under his leadership.”
Mr. Greenberg, 62, has been UGI's Chief Executive Officer since 1995 and
Chairman of its Board of Directors since 1996. Mr. Greenberg joined UGI
in 1980 as Corporate Development Counsel and has served the company for
over three decades in various senior management roles including General
Counsel (1983-1987), Vice President – Legal and Corporate Development
(1987-1989), Senior Vice President – Legal and Corporate Development
(1989-1994), President (1994-2005) and Vice Chairman of the Board
(1995-1996).
Marvin O. Schlanger, UGI's Presiding Director, said, “UGI's total
shareholder return during Lon's tenure was over 1,000% or 14.6% per
year, a period of truly remarkable growth and value creation for UGI's
shareholders. In addition to this track record of financial success, Lon
has instilled a culture of excellence at UGI and has developed a strong
management team that will serve UGI shareholders for the foreseeable
future. This team will be led by John Walsh, a talented executive and a
worthy successor to Lon as CEO. Although we wish Lon a long, happy and
healthy retirement, we are very pleased that UGI shareholders will
continue to benefit from Lon's leadership as Chairman of UGI's Board of
Directors.”
About UGI
UGI is a distributor and marketer of energy products and services.
Through subsidiaries, UGI operates natural gas and electric utilities in
Pennsylvania, distributes propane both domestically and internationally,
manages midstream energy and electric generation assets in Pennsylvania,
and engages in energy marketing in the Mid-Atlantic region. UGI, through
subsidiaries, is the sole General Partner and owns 26% of AmeriGas
Partners, L.P. (NYSE:APU), the nation's largest retail propane
distributor.
Comprehensive information about UGI Corporation is available on the
Internet at http://www.ugicorp.com.
UGI CorporationHugh J. Gallagher, 610-337-1000 ext. 1029Simon
Bowman, 610-337-1000 ext. 3645Shelly Oates, 610-337-1000 ext. 3202
