Targa Resources Corp. announces the election of a new Chairman of the Board of Directors

HOUSTON, Jan. 04, 2021 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) today announced that Paul W. Chung has retired from the management team and has been named Chairman of the Board of Directors effective January 1. 2021. Joe Bob Perkins, previously Executive Chairman of the Board, has retired from the management team and will continue to serve on the Board. The changes announced today continue the succession envisioned and approved by the Nominating and Governance Committee of Targa’s Board of Directors.

From May 2004 to March 2020, Mr. Chung served as Executive Vice President, General Counsel and Corporate Secretary of the Company and its predecessor entities and Targa Resources Partners LP since its inception. Since March 2020, Mr. Chung has served as Executive Vice President and Senior General Counsel of the company. From 1999 to May 2004, Mr. Chung served as Executive Vice President and General Counsel for various subsidiaries of Shell Oil Company, including Coral Energy, LLC and Shell Trading North America Company. In these positions, he was responsible for all legal and regulatory affairs. He served as Vice President and Assistant General Counsel of Tejas Gas Corporation from 1996 to 1999. Prior to 1996, Mr. Chung held several legal positions with various companies, including the law firm Vinson & Elkins LLP.

Mr. Chung’s intimate knowledge of all facets of Targa, along with his extensive experience in the energy industry, and more specifically in the midstream sector, and his legal and regulatory experience enable Mr. Chung to provide a valuable and distinct perspective to the board on a range of business and management issues.

About Targa Resources Corp.

Targa Resources Corp. is a leading midstream service provider and one of the largest independent midstream infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary midstream infrastructure assets. The Company is mainly engaged in the following businesses: gathering, compression, treatment, treatment, transportation and purchase and sale of natural gas; transportation, storage, fractionation, processing, purchase and sale of NGLs and NGL products, including services to LPG exporters; and the gathering, storage, terminal, and purchase and sale of crude oil.

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

Forward-looking statements

Certain statements contained 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 occur or may occur in the future , are forward-looking statements. These forward-looking statements are based on a number of assumptions about future events and are subject to a number of uncertainties, factors and risks, many of which are beyond the Company’s control, which could cause material different from those expected by Company management. These risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in market price and demand for natural gas, natural gas liquids and crude oil. , the impact of pandemics such as COVID-19, the actions of the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil-producing countries, the timing and success of development efforts commercial, and other uncertainties. These and other applicable uncertainties, factors and risks are more fully described in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and any quarterly reports subsequently filed on Form 10-Q and current reports on Form 8-K. The Company does not undertake 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
[email protected] or by phone at (713) 584-1133.

Sanjay Boy
Vice President, Finance and Investor Relations

Jennifer Kneale
Financial director