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New Jersey Resources


11/14/2017 - For Immediate Release

WALL, N.J. – New Jersey Resources (NYSE: NJR) today named Stephen Westhoven executive vice president and chief operating officer (COO).

In this role Mr. Westhoven reports to Chairman and CEO Laurence M. Downes, and will be responsible for providing operational leadership and management to NJR’s regulated and unregulated businesses, including New Jersey Natural Gas (NJNG), NJR Energy Services (NJRES), NJR Clean Energy Ventures (NJRCEV) and NJR Home Services (NJRHS).

Throughout his nearly three decades at NJR, Mr. Westhoven has held key leadership positions and assumed progressive responsibilities culminating in today’s appointment to COO. He began his career in 1990 as an engineer at NJNG. After serving as vice president at NJRES, where he successfully advanced the company’s wholesale energy strategy and expanded its footprint across the United States and Canada, he was named senior vice president and COO of NJR’s unregulated businesses, NJRES, NJRCEV and NJRHS.

“As an energy infrastructure and services company focused on natural gas, clean energy and energy efficiency, New Jersey Resources is strategically positioned to meet the needs of our customers and the expectations of our shareowners,” said Laurence M. Downes, chairman and CEO of New Jersey Resources. “With his extensive industry experience, Steve possesses the insights, understanding and proven abilities that will serve him well as COO. We have a strong leadership team that will continue to build on our solid foundation to deliver performance.”

Additionally, Mark Valori was named vice president of NJRCEV, and Dave Johnson was named vice president of NJRES, effective immediately. Mr. Valori joined NJRCEV in 2010 and is responsible for executing its business plan, including the engineering, construction and implementation of its commercial solar projects. Mr. Johnson joined NJRES in 2002, where he oversees the development of the wholesale marketing and deal origination business and has played a key role in building NJR’s Midstream business.

“Both Mark and Dave are valuable members of our team,” Downes said. “Their contributions have been, and will continue to be, instrumental to the growth of our business and establishing NJR as a leader in the wholesale and renewable energy marketplace.”

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of primary businesses:

  • New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,300 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex and Burlington counties.
  • NJR Clean Energy Ventures invests in, owns and operates solar and onshore wind projects with a total capacity of more than 300 megawatts, providing residential and commercial customers with low-carbon solutions.
  • NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
  • NJR Midstream serves customers from local distributors and producers to electric generators and wholesale marketers through its 50 percent equity ownership in the Steckman Ridge natural gas storage facility and its stake in Dominion Midstream Partners, L.P., as well as its 20 percent equity interest in the PennEast Pipeline Project.
  • NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its more than 1,000 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.

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Dennis Puma, Investor

Michael Kinney, Media

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