Spire announced Wednesday that CEO Suzanne Sitherwood will retire at the end of the year, after more than a decade at the helm of the St. Louis-based gas utility — an eventful period characterized by the transformation of what was once seen as a staid, regional company.
“Leading Spire for the last 12 years has been the privilege of a lifetime and my retirement represents the culmination of more than four decades in the industry,†Sitherwood said in a statement released by the company, after informing its board of her decision.
Spire, which serves natural gas customers in Missouri, Alabama and Mississippi, said the company’s market value has “more than quadrupled†during Sitherwood’s time as CEO — a stretch highlighted by billions of dollars of acquisitions of other gas utilities. That buying spree was soon followed by an overhaul of the company’s identity, with the Laclede Group changing its name to Spire in 2017, and ditching the name it shared with St. Louis’ founder for more than 150 years.
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More recently, Sitherwood’s tenure has also overlapped with controversies tied to the company’s conduct surrounding a natural gas pipeline built to serve the St. Louis region. After almost a couple years of service, the Spire STL Pipeline had its approval rescinded and its future put in question in 2021, amid federal judicial and regulator concerns that a need for the project was never properly demonstrated.
While the line was in limbo and regulators revisited the fate of the pipeline, Spire was widely criticized for misleading messaging and “fearmongering†by warning that the St. Louis area’s gas supply could be disrupted during the winter heating season — a scenario that opponents weren’t pushing for and that federal decision-makers were keen to prevent.
The line’s approval was renewed in December, although top officials said it never should’ve been granted in the first place.
Spire said its board has begun a search process for a successor to the 62-year-old Sitherwood. That process will enlist the help of an “independent executive search firm†and will consider both internal and external candidates.
“I am energized to continue to lead Spire for the remainder of the year and am committed to facilitating a smooth transition,†said Sitherwood. “I am also committed to continuing my national work as the current chair of the American Gas Association.â€
In retirement, Sitherwood and her husband plan to spend more time with family spread across the U.S., Europe, Africa and South America.
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