Targa Resources appoints new Chief Financial Officer

Targa Resources has appointed Will Byers as its new CFO. He replaces Jen Kneale, who will now become the President of Finance and Administration.

It may sound like a demotion, but it is not.  Mr. Byers will report to Ms. Kneale, who has been given expanded responsibilities and will continue to report to the CEO, Matt Meloy. Mr. Meloy was the CFO before Ms. Kneale.

Targa is a Houston-based midstream company with a market capitalization of $29 billion. It is primarily involved in the gathering and treatment of natural gases in the Permian Basin and its transportation by pipeline to its processing and export facilities in the Houston region.

Mr. Byers joins from Manchester Energy, a private equity-backed midstream business where he has been CFO for two years. Prior to that, he was CFO at Navitas Midstream Partners until its sale in 2022 to Enterprise Products for $3.25 billion. Before that, Mr. Byers was a managing director at Barclays and worked in investment banking for 14 years. Mr. Byers will receive a base salary of $575,000.

Ms. Kneale has served as the CFO since 2018. She joined the company in 2013 from the energy private equity group of Tudor Pickering. Her base salary will increase from $635,000 to $680,000.

SEC filing – 8-K Targa appoints new CFO

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