Sempra, San Diego, California, United States: Trevor Mihalik, Executive Vice President & Group President

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Trevor Mihalik was named executive vice president and group president of Sempra in Jan 2024, where now he oversees the Sempra California growth platform, which is comprised of San Diego Gas and Electric Co. (SDG&E) and the Southern Gas Company (SoCalGas). He is also responsible for Sempra’s risk and compliance, human resources, audit services and insurance functions.

In his new role, Mihalik is helping to drive Sempra California’s corporate strategy, which is built upon sustainable business practices, technology and innovation to create long-term value for the company’s stakeholders, while supporting its customers. [REDACTED FOR PUBLICATION]

For example, SDG&E announced a vehicle-to-grid pilot, enabling electric school buses to store solar power and return the unused power back to the grid during downtime. Other initiatives include solar projects funded on tribal lands to generate renewable electricity, minimize CO2 and provide economic savings for underserved families living on these tribal lands. In addition, SoCalGas has been recognized for its Hydrogen Innovation Experience, which is North America's first-ever clean hydrogen powered microgrid and home. This project demonstrates how carbon-free gas made from renewable electricity can be used in pure form or as a blend to fuel energy systems and communities of the future.

Prior to January 2024, Mihalik was executive vice president and chief financial officer for Sempra. In this role, his strategic vision and focus on financial and operational excellence resulted in consistent, strong financial results and growth for Sempra. Highlights from 2023, include:

• Record 2023 revenue - nearly 16% increase in year-over-year revenue to $16.7 billion. 
• $2.92 billion in adjusted earnings in fiscal year 2023.
• Raised annualized common stock dividend for 14th consecutive year.
• Adjusted EPS guidance has been met or exceeded for the last six years.
• Outperformed utility peers over the last 1, 2, 3, 4, and 5 year time periods for total shareholder return.

Mihalik has supported the full integration of sustainable [REDACTED FOR PUBLICATION] into the company’s business strategy, operations and long-term investments. [REDACTED FOR PUBLICATION] By aligning the capital-intensive activities with sustainability goals, Mihalik is helping to drive [REDACTED FOR PUBLICATION] to support long-term [REDACTED FOR PUBLICATION] value for all shareholders and other stakeholders.

Through his unwavering focus on financial stability, performance and operational excellence, Mihalik created an optimal environment for the company to provide access to a more reliable and modern energy network. This will support cleaner forms of energy and future economic growth, especially in the communities where the organization’s employees work and live.

Sempra is differentiated by its high-performance culture, which Mihalik has cultivated within his own teams because he believes it can unlock an employee’s full potential. He understands that in creating this inclusive, high-performance culture, fueled by diversity of perspectives, he is empowering his employees to speak up and actively contribute to their own success and that of the organization. He has created a safe and transparent environment, which has inspired confidence in his team. Under his leadership, there is recognition of employees’ contributions to the financial stability and performance of the organization, to building greater trust and value for shareholders and to executing the company’s vision of delivering energy with purpose.

As executive vice president and group president of Sempra:

• [REDACTED FOR PUBLICATION] investments supporting the integration of renewable energy generation, incorporating battery storage projects, supporting EV infrastructure and fire hardening. Other initiatives include the modernization of SoCalGas’ gas network, reduction in carbon emissions and additional investments for emerging, cleaner molecule energy infrastructure.
• Increased ownership of operational battery storage by 171 MW.
• Authorized storage capacity increased by over 50% at the company’s largest natural gas storage facility.
• SDG&E was awarded “Best in the West” for electric reliability for the 18th consecutive year and recognized for their wildfire mitigation predictive modeling technology.
• SoCalGas is a partner of the Alliance for Renewable Clean Hydrogen Energy Systems (ARCHES) and was selected to receive an award from the Department of Energy of a $1.2 billion for a new regional hydrogen hub. Los Angeles is the nation’s largest manufacturing hub and cleaner molecules have the opportunity to play a critical role in helping hard-to-electrify sectors lower their emissions, while continuing to deliver the products their customers are demanding.

As CFO for Sempra, highlights include:

• Record 2023 revenue - nearly 16% increase in year-over-year revenue to $16.7 billion. 
• $2.92 billion in adjusted earnings in fiscal year 2023.
• Adjusted EPS guidance that has been met or exceeded for the last five six years. (data support: 2018-2023)
• Reaffirmed the company’s long-term projected EPS growth rate of 6%-8%.
• Developed creative financing transactions, resulting in the development of large-scale liquefied natural gas projects that are providing energy security to Europe and customers around the world.