February 21, 2014
The Laclede Group, Inc. (NYSE: LG) board of directors has elected Mark A. Borer to its board, effective February 21, 2014. Borer fills the vacancy created by the resignation of Arnold Donald earlier this year.
Borer, 59, served as president and chief executive officer of DCP Midstream Partners, LP from 2006 until his retirement at the end of 2012. DCP Midstream Partners is a publicly-traded master limited partnership that gathers, processes, transports, stores and markets natural gas. The firm also produces, fractionates, transports, stores and markets natural gas liquids and is a leading wholesale distributor of propane.
"We are pleased to welcome Mark to our board. He brings both extensive experience in the natural gas sector and strong complementary skills in corporate development that will strengthen our board in key areas aligned with our growth strategy," said William E. Nasser, chairman of the board of The Laclede Group.
Prior to serving as president and CEO of DCP Midstream Partners, Borer held various executive positions with DCP Midstream, LLC from 2002 to 2006 in marketing and corporate development. His responsibilities included strategy, acquisitions and divestitures, and planning as well as all downstream assets, trading and marketing activities. Borer also served as senior vice president, southern division for DCP Midstream, LLC from 1999 to 2002 where he oversaw all gathering and processing, commercial, operating and marketing activities. Prior to that time, he spent 15 years with Union Pacific Fuels and related companies where he held a variety of management and executive positions responsible for gas marketing, trading, transportation, supply, risk management, and regulatory affairs. He also served on the board of directors of the general partner for TEPPCO Partners, L.P. (2000-2005) and DCP Midstream Partners, LP (2006-2012). Borer holds a Master of Science in mineral economics from Colorado School of Mines and a Bachelor of Science in business administration from the University of Nebraska.
ABOUT THE LACLEDE GROUP, INC.
The Laclede Group, Inc. (NYSE: LG), headquartered in St. Louis, Missouri, is a public utility holding company. The Gas Utility segment serves St. Louis and eastern Missouri through Laclede Gas and serves Kansas City and western Missouri through Missouri Gas Energy. Together they provide more than 1.13 million residential, commercial and industrial customers with safe and reliable natural gas service. Laclede's primary non-utility business, Laclede Energy Resources, Inc., included in the Gas Marketing segment, provides non-regulated natural gas services. Laclede Group is committed to pursuing growth through 1) developing and investing in emerging technologies; 2) investing in infrastructure; 3) acquiring businesses to which the Company can apply its operating model, and 4) leveraging its current business unit competencies.
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