Sempra Infrastructure, a subsidiary of utility company, Sempra (SRE), Monday announced that it has appointed Bhavesh Patel as its incoming chief executive officer as he will assume this role upon the closing of a KKR-led consortium's acquisition of a majority ownership stake in the company.
Justin Bird will continue to serve as the CEO and the board chairman of the infrastructure company through the close of the acquisition, following which he will continue to serve as executive vice president at Sempra, while also serving on the Sempra Infrastructure Board of Directors.
Patel brings around 40 years of leadership experience across the global chemicals and energy sectors and was most recently president of Standard Industries.
In pre-market activity, SRE shares were trading at $91, down 0.46% on the New York Stock Exchange.
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