Targa Resources Corp. Elects New Board Member

Rhea-AI Summary

Targa Resources Corp. (NYSE: TRGP) announced the election of Ms. Lindsey M. Cooksen to its Board of Directors, increasing the board size to twelve members effective June 1, 2020. Cooksen, founder of Cooksen Wealth, brings extensive experience from Morgan Stanley and Citigroup, with expertise in wealth management and risk mitigation. CEO Matthew J. Meloy expressed confidence in her ability to contribute meaningful insights. This move is part of Targa's succession planning, aiming to enhance the board's financial acumen and investor perspectives.

Positive

• Ms. Lindsey M. Cooksen's election enhances the board's financial expertise.
• Cooksen's background in wealth management and risk mitigation aligns with Targa's strategic goals.

Negative

• None.

HOUSTON, June 01, 2020 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that it has elected Ms. Lindsey M. Cooksen to the Board effective June 1, 2020 and increased the size of its Board of Directors from eleven to twelve directors.

Ms. Cooksen has served as the Founder and Managing Director of Cooksen Wealth, LLC, a wealth management firm, since April 2019. She previously held various positions with Morgan Stanley Private Wealth Management (“Morgan Stanley”) from August 2009 to April 2019. While at Morgan Stanley, she held the roles of Private Wealth Advisor, Family Wealth Director and Portfolio Management Director. She also previously worked for Citigroup Global Investment Bank between July 2005 and August 2007. 

“As part of our ongoing succession planning for our Board of Directors, we are pleased to have Lindsey join us and believe she will make a meaningful contribution to the Company. Ms. Cooksen's extensive corporate experience in the financial services industry, including wealth management and portfolio construction, tax planning and analysis and risk mitigation brings financial experience and an investor’s perspective to the Board, and enhances the knowledge of the board in these areas,” said Matthew J. Meloy, Chief Executive Officer of the Company. 

About Targa Resources Corp.

Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream energy companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary midstream energy assets. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting and selling natural gas; transporting, storing, fractionating, treating and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling and selling crude oil.

For more information, please visit the Company’s website at www.targaresources.com.

Forward-Looking Statements

Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the impact of pandemics such as COVID-19, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, the timing and success of business development efforts, and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2019, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact the Company's investor relations department by email at InvestorRelations@targaresources.com or by phone at (713) 584-1133.

Sanjay Lad
Senior Director, Finance & Investor Relations

Jennifer Kneale
Chief Financial Officer

FAQ

What changes occurred in Targa Resources' Board of Directors on June 1, 2020?

On June 1, 2020, Targa Resources elected Lindsey M. Cooksen to its Board of Directors, increasing the board size from eleven to twelve members.

Who is Lindsey M. Cooksen and what is her background?

Lindsey M. Cooksen is the Founder and Managing Director of Cooksen Wealth, LLC, with prior positions at Morgan Stanley and Citigroup, specializing in wealth management.

How will Lindsey Cooksen's experience benefit Targa Resources?

Cooksen's extensive experience in financial services and risk management is expected to provide valuable insights for Targa's strategic direction.

What is Targa Resources' strategic focus with the new board member?

The addition of Cooksen is part of Targa's succession planning, aimed at enhancing the board's financial knowledge and investor perspective.