This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

UGI Announces CEO Succession Plan

UGI Corporation (NYSE: UGI) today announced that Lon R. Greenberg intends to retire as Chief Executive Officer in the spring of 2013. Mr. Greenberg will continue to serve UGI as non-executive Chairman of its Board of Directors. Mr. Greenberg will also continue to serve as non-executive Chairman of the Boards of Directors of AmeriGas Propane, Inc. and UGI Utilities, Inc. John L. Walsh, UGI’s President and Chief Operating Officer, will be named President and Chief Executive Officer of UGI upon Mr. Greenberg’s retirement.

Mr. Greenberg, 62, has been UGI’s Chief Executive Officer since 1995 and Chairman of its Board of Directors since 1996. Mr. Greenberg joined UGI in 1980 as Corporate Development Counsel and has served the company for over three decades in various senior management roles including General Counsel (1983-1987), Vice President – Legal and Corporate Development (1987-1989), Senior Vice President – Legal and Corporate Development (1989-1994), President (1994-2005) and Vice Chairman of the Board (1995-1996).

Marvin O. Schlanger, UGI’s Presiding Director, said “Lon’s time as CEO will be remembered as one of truly remarkable growth and value creation for UGI’s shareholders. UGI’s total shareholder return during Lon’s tenure is nearly 900%, an average growth rate of over 14% per year. In addition to this remarkable track record of financial success, Lon has instilled a true culture of excellence at UGI and has developed a strong management team that will serve UGI shareholders for the foreseeable future. This team will be led by John Walsh, a talented executive and a worthy successor to Lon as CEO. Although we wish Lon a long, happy and healthy future retirement, we are very pleased that UGI shareholders will continue to benefit from Lon’s leadership as the non-executive Chairman of UGI’s Board of Directors.”

Mr. Walsh, 57, has been President and Chief Operating Officer of UGI Corporation since 2005. Mr. Walsh also serves as a Director of UGI Corporation and as Vice Chairman of the Boards of Directors of both AmeriGas Propane, Inc. and UGI Utilities, Inc. In addition to his role as UGI’s President and Chief Operating Officer, Mr. Walsh also serves as UGI’s principal financial officer (since 2011) and previously served as Chief Executive Officer of UGI Utilities, Inc. (2009-2011). Mr. Walsh held various senior management positions at the BOC Group plc from 1986 to 2005, including Chief Executive of the Industrial and Special Products Division (2001-2005). Prior to joining BOC, Mr. Walsh held several management positions in planning, corporate development and field operations at UGI and AmeriGas from 1981 to 1986.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,156.85 +24.88 0.15%
S&P 500 2,001.57 +2.59 0.13%
NASDAQ 4,562.1890 +9.43 0.21%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs