Last week the Laclede Group announced a new organizational structure made effective May 1 that will position the company to grow through execution of its four strategic imperatives: to develop and invest in emerging technologies, to pursue growth through the acquisition of other regulated natural gas distribution utilities and businesses, to invest in infrastructure that will position the company to effectively assimilate and operate companies it acquires, and to leverage current business unit competencies to enhance growth.
“Our new organizational structure is a fundamental step in the execution of our growth strategy,” said Suzanne Sitherwood, President and Chief Executive Officer of The Laclede Group.
“We are now set up to focus on pursuing regulated growth and developing and investing in emerging technologies, such as compressed natural gas vehicles, without sacrificing our ability to focus on our existing businesses and what has made us successful.”
Laclede has a nine-member Board of Directors, including Sitherwood. Two of those members, Arnold Donald and Brenda D. Newberry, are African-American.
In an executive restructuring announced along with the operational changes, Laclede’s only senior African-American executive, Mark C. Darrell, was appointed to the position of Senior Vice President, General Counsel and Chief Compliance Officer. In this role, Darrell will supervise the company’s corporate legal functions, including mergers and acquisition support, litigation, regulatory affairs, contracts and environmental matters. He will also be responsible for the company’s corporate compliance.
The St. Louis American asked Darrell some questions about how changes at Laclede will impact his role and the company’s diversity initiative.
The American: What does this new structure mean for your responsibilities and workflow at Laclede?
Mark C. Darrell: My new role is largely the same as it was before. I continue to serve as the Laclede Group’s chief legal officer. My responsibilities include merger and acquisition support, litigation, regulatory affairs, contracts and environmental matters. One of my new responsibilities will be handling facets of our corporate compliance.
The American: Please describe your executive input into the restructuring process.
Mark C. Darrell: While the entire executive team was involved in the process, our new growth strategy requires a keen focus on compliance. I helped to define my new role with an emphasis in this area.
The American: The St Louis American watch-dogs issues of inclusion of diversity and inclusion. Were these issues a consideration in the restructuring process?
Mark C. Darrell: Yes, Laclede has always been committed to having a diverse and inclusive work environment built on respect for every individual’s unique skills and perspectives.
The American: How does the restructuring impact specifically minority inclusion at Laclede? We think of inclusion in terms of workforce, contracting, executive leadership and board leadership.
Mark C. Darrell: This restructure was a key fundamental in helping to align The Laclede Group for growth. As we continue to grow our business we will have a strong focus on hiring an exceptional and diverse workforce.
