Spire Inc.: A History of Growth and Evolution from Laclede Gas
The story of Spire is one of longevity and strategic expansion. Originally known as the Laclede Gas Company, the organization has evolved from a pioneering industrial entity into a modern energy provider, maintaining a presence on the financial markets for over a century.
A Legacy on Wall Street
Laclede Gas Company holds a distinguished place in American financial history. It was one of the original 12 industrial companies that formed the Dow Jones Industrial Average, the widely recognized stock market index. Although it was removed from the index in 1899, its legacy as a cornerstone of early American industry remained.
The company first listed its stock on the New York Stock Exchange (NYSE) on November 14, 1889. This milestone makes it the 8th-oldest listed stock on the NYSE. To commemorate 120 years of trading, executives from The Laclede Group visited the exchange on December 7, 2009, to ring the closing bell.
[ไม่มีภาพประกอบ]Modern Leadership and Strategic Expansion
As the company entered the 21st century, it focused on diversifying its leadership and expanding its geographic footprint. On February 1, 2012, the company reached a leadership milestone by hiring Suzanne Sitherwood as its first female CEO.
Expanding the Missouri Footprint
In 2013, The Laclede Group increased its presence in Missouri by acquiring Missouri Gas Energy from the Southern Union Company. This acquisition allowed the company to extend its operations into Kansas City.
Growth in the Southeast
The company significantly expanded its reach in 2014 through the acquisition of the Alabama Gas Corporation (Alagasco). Now operating as Spire Alabama Inc., this entity serves several key areas, including Greater Birmingham, East Lauderdale County, Gadsden, Jasper, Anniston-Oxford, Greater Tuscaloosa, Greater Montgomery, Opelika-Auburn, Tuskegee, Selma, and various Black Belt communities.
[ไม่มีภาพประกอบ]The Transition to Spire
A major corporate transformation occurred on April 28, 2016, when shareholders approved renaming The Laclede Group to Spire. This rebranding coincided with further acquisitions to strengthen its regional hold.
Later in 2016, Spire acquired Energy South, Inc. from Sempra U.S. Gas & Power. This deal included the acquisition of Mobile Gas and Willmut Gas. Today, Mobile Gas operates in Mobile, Alabama, as Spire Gulf Coast Inc., while Willmut Gas operates in Hattiesburg, Mississippi, as Spire Mississippi Inc.
Key Facts
- NYSE Standing: 8th-oldest listed stock on the New York Stock Exchange.
- Index History: Former member of the original 12 companies in the Dow Jones Industrial Average.
- Leadership: Suzanne Sitherwood became the first female CEO in 2012.
- Rebranding: Officially renamed from The Laclede Group to Spire in 2016.
- Regional Reach: Operates across Missouri, Alabama, and Mississippi.
| Year | Event/Acquisition | Resulting Entity/Impact |
|---|---|---|
| 1889 | NYSE Listing | Became 8th-oldest listed stock |
| 2012 | Appointment of Suzanne Sitherwood | First female CEO |
| 2013 | Missouri Gas Energy | Expanded into Kansas City |
| 2014 | Alabama Gas Corporation | Established Spire Alabama Inc. |
| 2016 | Corporate Rebranding | Renamed to Spire |
| 2016 | Energy South, Inc. | Established Spire Gulf Coast and Spire Mississippi |
Frequently Asked Questions
When did Laclede Gas first list on the NYSE?
Laclede Gas first listed its stock on the New York Stock Exchange on November 14, 1889.
Who was the first female CEO of the company?
Suzanne Sitherwood was hired as the company's first female CEO on February 1, 2012.
When did the company change its name to Spire?
Shareholders approved the name change from The Laclede Group to Spire on April 28, 2016.
Which companies were acquired as part of the Energy South, Inc. deal?
The acquisition of Energy South, Inc. included Mobile Gas (now Spire Gulf Coast Inc.) and Willmut Gas (now Spire Mississippi Inc.).
Was Laclede Gas part of the Dow Jones Industrial Average?
Yes, it was one of the original 12 industrial companies in the index, though it was removed in 1899.