Sempra Energy's New Chief Legal Officer Resigns Abruptly, Gets $3.2M Cash Payment
After less than a year on the job, George Bilicic and Sempra agreed that he had "good reason" to resign under his severance pay agreement.
April 01, 2020 at 01:17 PM
3 minute read
Sempra Energy's co-deputy general counsels have stepped up to lead the San Diego-based energy infrastructure company's legal department following chief legal officer and president George Bilicic's abrupt resignation earlier this week.
Bilicic, who also served as chief compliance officer, submitted his resignation Monday and departed the same day, according to an SEC filing Tuesday. Sempra stated in the 8K filing that Bilicic and the company agreed that he had "good reason" to resign under his severance pay agreement.
The agreement means that he receives a severance cash payment of $3,248,000 along with about $42,000 worth of medical benefits, $50,000 in financial planning services and vested stock valued at more than $3.3 million.
Bilicic joined Sempra as group president in June 2019 and made more than $6.3 million in total compensation that same year, according to a proxy statement. He was appointed president and CLO in January, when Joseph Householder retired as president and chief operating officer.
In Bilicic's absence, Sempra chairman and CEO Jeffrey Martin has taken on the additional role of president. He previously described Bilicic as a "well-respected advisor," "leader" and an "outstanding strategist."
Sempra's co-deputy general counsels, Robert Borthwick and Erbin Keith, are overseeing the legal department, according to a Sempra spokeswoman.
The company has not provided an explanation for Bilicic's sudden departure and attempts to speak with him were not immediately successful.
Sempra's San Diego Gas & Electric had tried, unsuccessfully, to make customers foot the bill for $379 million in costs associated with the 2007 California wildfires. The utility had argued that the fires were out of its control, but regulators and state courts rejected the argument and the U.S. Supreme Court declined to hear SDG&E's appeal in October 2019.
In February, a California state judge levied more than $525,000 in sanctions against Sempra, its subsidiary Southern California Gas Co. and its attorneys at Morgan, Lewis & Bockius for withholding information from plaintiffs who sued over a massive natural gas leak near Los Angeles in 2015.
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