New Jersey Resources Appoints Richard Reich Senior Vice President and General Counsel

Rhea-AI Summary

New Jersey Resources (NYSE: NJR) has promoted Richard Reich to Senior Vice President and General Counsel, effective immediately. Reich will lead the company's legal department while continuing to serve as Corporate Secretary until a replacement is found. He joined NJR in 2006 and has held various positions, including Interim General Counsel since May 2021. CEO Steve Westhoven praised Reich's leadership and expertise. NJR operates multiple businesses, providing natural gas and clean energy services across New Jersey, including over 7,500 miles of gas infrastructure and renewable energy projects.

Positive

• Richard Reich's promotion highlights stable leadership and continuity within the legal department, potentially enhancing corporate governance.
• Reich's extensive experience since joining in 2006 is expected to support NJR's growth and sustainability initiatives.

Negative

• The ongoing search for a replacement Corporate Secretary may indicate a short-term disruption in leadership continuity.

WALL, N.J.--(BUSINESS WIRE)-- New Jersey Resources (NYSE: NJR) today announced Interim General Counsel and Corporate Secretary Richard Reich has been promoted to Senior Vice President and General Counsel. In this position, Mr. Reich is responsible for leading NJR’s legal department, developing and directing the corporate legal function and overseeing corporate compliance. He will also continue to serve in the Corporate Secretary role until a replacement is selected.

“Rich is an exceptional corporate attorney, who will serve our company well as Senior Vice President and General Counsel,” said Steve Westhoven, President and CEO of New Jersey Resources. “Throughout his tenure at NJR, he’s proven himself to be a strong and capable leader and a valued member of our team. I am confident he will continue to play a key role in our success as we continue to grow our business, execute our sustainability strategy and meet our customers’ expectations.”

Mr. Reich joined NJR in 2006 as Associate General Counsel, where he focused on securities law and other corporate legal matters. In 2016, he was promoted to Corporate Secretary and Assistant General Counsel with responsibility for the oversight of the company’s corporate governance. He was named Interim General Counsel in May 2021.

Prior to NJR, he served as an associate attorney at Milbank, Tweed, Hadley & McCloy LLP and Troutman Sanders LLP, where he practiced in the areas of finance, securities and general corporate law.

Mr. Reich graduated magna cum laude from New York University with a bachelor of science degree in politics and received his juris doctor degree from New York University School of Law. He is a member of the Association of Corporate Counsel and the Society of Corporate Secretaries and Governance Professionals.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

• New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,500 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex and Burlington counties.
• NJR Clean Energy Ventures invests in, owns and operates solar and onshore wind projects with a total capacity of more than 365 megawatts, providing residential and commercial customers with low-carbon solutions.
• NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
• Storage & Transportation serves customers from local distributors and producers to electric generators and wholesale marketers through its 50% equity ownership in the Steckman Ridge natural gas storage facility and its stake in Dominion Midstream Partners, L.P., as well as its 20% equity interest in the PennEast Pipeline Project.
• NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its nearly 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve^® and initiatives such as The SAVEGREEN Project^® and The Sunlight Advantage^®.

Follow us on Twitter @NJNaturalGas.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210910005397/en/

Media Contact:

Michael Kinney

732-938-1031

mkinney@njresources.com

Investor Contact:

Dennis Puma

732-938-1229

dpuma@njresources.com

Source: New Jersey Resources

FAQ

Who was promoted to Senior Vice President and General Counsel at NJR?

Richard Reich was promoted to Senior Vice President and General Counsel at New Jersey Resources.

What responsibilities will Richard Reich have as General Counsel of NJR?

Richard Reich will lead the legal department, oversee corporate compliance, and continue as Corporate Secretary until a replacement is found.

When did Richard Reich become Interim General Counsel at NJR?

Richard Reich became Interim General Counsel in May 2021.

What is the significance of Richard Reich's promotion for NJR?

Reich's promotion signifies stable leadership and continuity, allowing NJR to focus on its growth and sustainability strategy.