UGI Appoints Robert F. Beard as Chief Operations Officer

Rhea-AI Summary

UGI Corporation has appointed Robert F. Beard as its new Chief Operations Officer (COO), effective immediately. Beard, who has a strong track record within the company, will oversee both the Global LPG and Natural Gas lines of business. This structural change aims to enhance operational efficiency and customer service while pursuing a cohesive strategy across the company. UGI's leadership believes this move will facilitate better execution of their strategic plan and drive long-term value for shareholders, while focusing on reliability, renewable investment, and portfolio rebalancing.

Positive

• Robert F. Beard's appointment as COO is expected to streamline operations and improve customer experience.
• The consolidation of business units is anticipated to create synergies and drive operational excellence.
• The new structure aligns with UGI's strategic goals to enhance shareholder value.

Negative

• None.

VALLEY FORGE, Pa.--(BUSINESS WIRE)-- UGI Corporation (NYSE: UGI) announced today that Robert F. Beard has been appointed Chief Operations Officer (COO) reporting to UGI’s President and Chief Executive Officer, Roger Perreault, effective immediately.

Robert F. Beard (Photo: Business Wire)

“Bob has a long history of success at UGI and deep institutional knowledge of our Company,” said Perreault. “He understands our vision and, as part of our Executive Leadership Team, has been instrumental in shaping our strategic priorities. The appointment of Bob as COO is an important next step in our evolution toward a “one company” approach that will help us better serve customers, drive operational excellence, and create more opportunities for employees. By consolidating both lines of business – Natural Gas and Global LPG – under the leadership of Bob, we will have a more streamlined structure and can better capture synergies across our portfolio.”

In his new role, Beard will be responsible for oversight of UGI’s Global LPG line of business in addition to the Natural Gas line of business, which he led previously. He will be accountable for ensuring the execution of strategy, delivering safe and reliable service, and driving continuous improvement of the customer experience across each of the Company’s business units. Beard will retain responsibility for Global Engineering & Construction and Procurement and will continue to serve on the Company’s executive leadership team. Previously, Mr. Beard was Executive Vice President, Natural Gas, Global Engineering & Construction and Procurement of UGI Corporation, Chief Executive Officer of UGI Utilities, Inc., and Chief Executive Officer of Mountaineer Gas Company.

“The executive leadership team and I will work together on continuing to elevate operational excellence throughout the Company,” continued Perreault. “This new role will provide a clearer line of sight into how each of our business units is progressing against our strategic plan and financial commitments. Our entire team can also focus more time driving the vision and strategy of UGI, making strategic investments in support of our overall business, building a high performing and engaged culture, and driving shareholder value in the rapidly changing energy sector. We are now more effectively positioned to drive UGI forward and to continue executing on our ‘three R’ strategy to deliver Reliable earnings growth, invest in Renewables, and Rebalance our portfolio, which we are confident will drive long-term value for our shareholders.”

About UGI Corporation

UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, natural gas utilities in West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the Mid-Atlantic region of the United States and California and internationally in France, Belgium, and the Netherlands.

Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221201005290/en/

Investor Relations

610-337-1000

Tameka Morris, ext. 6297

Arnab Mukherjee, ext. 7498

Media Relations

973-765-7393

Robert Ferris

Source: UGI Corporation

FAQ

Who is the new COO of UGI Corporation?

Robert F. Beard has been appointed as the new COO of UGI Corporation.

What changes did UGI Corporation announce in their leadership?

UGI Corporation announced the appointment of Robert F. Beard as Chief Operations Officer, overseeing Global LPG and Natural Gas operations.

What is the expected impact of Robert Beard's appointment on UGI Corporation?

Beard's appointment is expected to enhance operational efficiency and create more opportunities for the company and its employees.

What strategy will UGI Corporation focus on under the new COO?

UGI Corporation will continue to pursue its 'three R' strategy focusing on reliable earnings growth, renewable investments, and portfolio rebalancing.