Targa Names Branstetter CFO, Secrest Logistics President as Byers Retires
TRGP has more than doubled off its 52-week low of $144.14.
Summary
Targa Resources announced a CFO transition: Benjamin Branstetter succeeds William Byers effective September 1, 2026, while Brent Secrest joins as President – Logistics and Transportation.
Key Events · Executive and Board Changes · TRGP
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CFO Succession Announced
Effective September 1, 2026, Benjamin J. Branstetter, currently President – Logistics and Transportation, will become CFO, succeeding William A. Byers.
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New Logistics President Hired
Brent B. Secrest, formerly EVP and Chief Commercial Officer at Enterprise Products Holdings, joins as President – Logistics and Transportation effective September 1, 2026.
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CFO Compensation Terms
Branstetter receives a $600,000 annual base salary and a 400% of salary long-term incentive award, first applicable to his 2027 annual award.
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Byers Retirement and Transition
William Byers retires as CFO effective September 1, 2026, remaining in a non-executive capacity through December 31, 2026; his 2025 PSU and 2026 RSU/PSU awards are forfeited.
Analysis · TRGP · Energy & Transportation
A planned CFO succession is underway at Targa Resources. Effective September 1, 2026, Benjamin Branstetter moves from President – Logistics and Transportation to CFO, replacing William Byers, who retires after a transition period through year-end. To fill Branstetter's prior logistics role, the company is bringing in Brent Secrest, a former Enterprise Products commercial executive. The transition appears orderly — Byers stays on in a non-executive capacity through December 31, and Branstetter receives a $600,000 base salary plus a 400% long-term incentive target starting in 2027. The forfeiture of Byers' 2025 PSU and 2026 equity awards is a standard retirement term, not a red flag. For a $63 billion company with record Q2 EBITDA and a major ExxonMobil agreement signed just days ago, this is a routine leadership handoff rather than a disruption.
How filings like this one have moved
In the 30 days to Aug 25, 2026, 29.6% of the 2856 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.04%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, TRGP was trading at $298.99 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $63.1B. The 52-week trading range was $144.14 to $307.94. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.