internal
Matthew J. Meloy
Chief Executive Officer
Executive
6 yr
11 reports
Targa Resources Corp. ·TRGP
Two operating segment presidents report directly to the CEO
Energy · Fortune #256 · Divisional structure · 3K employees · Houston, Texas
6
CEO span
↓ tighter than peers (avg 7)
2.3
Avg span
tight
3
Max depth
3 levels
4.3 yr
Avg tenure
67%
Internal hires
↑ above industry avg
Consolidated financials FY2024 · period end 2024-12-31 · 10-K
Revenue
$14.1B
Operating income
$3.3B
Net income
$1.9B
Total assets
$25.2B
Shares out
215M
Sourced from Targa Resources Corp. DEF 14A · filed 2026-03-26 ↗ View on SEC
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Targa Resources Corp. organizational chart
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Two operating segment presidents report directly to the CEO, an uncommon structure among large midstream firms. This page details Targa’s divisional leadership model, executive team composition, recent leadership changes, and peer comparisons.
What to model
Use the chart to test org decisions, not just view reporting lines
Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.
Latest signal D. Scott Pryor departed as President, Logistics & Transportation
Retired effective March 1, 2026
Source · See change logScenario views in the chart
- Add Chief Operating Officer Introduce a COO to consolidate oversight of both operating segments and reduce CEO span.
- Consolidate Segment Reporting Shift both segment presidents to report through a single operating executive.
Atlas work this supports
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The people
Who's running this
7 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.
Patrick J. McDonie
President, Gathering & Processing
Operations
8 yr
2 reports
internal
Benjamin J. Branstetter
President, Logistics & Transportation
Operations
0 yr
1 reports
internal
Jennifer R. Kneale
President
Executive
1 yr
0 reports
internal
Robert M. Muraro
Chief Commercial Officer
Commercial
8 yr
1 reports
William A. Byers
Chief Financial Officer
Finance
1 yr
1 reports
internal
Gerald R. Shrader
Executive Vice President, General Counsel & Secretary
Legal
2 yr
0 reports
The pay
Executive compensation
From the most recent DEF 14A Summary Compensation Table. 1 named executive officers disclosed. Bar length scales with total compensation.
Matthew J. Meloy $21.5M
- Base salary
- $1.17M
- Bonus
- $3.99M
- Stock awards
- $16.28M
- Other
- $34K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
The businesses
How Targa Resources Corp. divides the work
3 divisions report into the group CEO. Tile size scales with estimated headcount.
Gathering & Processing
2K employees
President, Gathering & Processing (Patrick J. McDonie)
Operates natural gas gathering, processing and crude oil gathering assets across major U.S. basins.
Logistics & Transportation
900 employees
President, Logistics & Transportation (Benjamin J. Branstetter)
Manages NGL pipelines, fractionation, storage, terminaling and export services.
Finance
250 employees
Chief Financial Officer (William A. Byers)
Oversees financial reporting, capital markets, accounting and treasury.
The thesis
Why this org is unusual
Two full P&L operating presidents — Gathering & Processing and Logistics & Transportation — report directly to the CEO, creating a clear divisional structure.
This concentrates accountability for the company’s two core segments at the top level, rather than routing them through a COO. The President role sits alongside, not above, the segment leaders, reflecting a balance between corporate coordination and autonomous operating units.
- No COO role
- Segment presidents hold clear P&L authority
The comparison
How Targa Resources Corp. stacks up
Compared with other large U.S. midstream operators, Targa’s structure is more explicitly divisional. Peers such as Enterprise Products and Kinder Morgan rely more heavily on centralized functional leadership. Targa’s direct CEO oversight of both segment presidents shortens decision paths for capital allocation but …
C-suite size
Reporting depth
Targa Resources Corp.
3 levels
Enterprise Products
4 levels
4 levels
5 levels
4 levels
Avg C-suite tenure
Has COO / Has CAIO
Targa Resources Corp. — no COO — no CAIO
Enterprise Products ✓ COO — no CAIO
Current signals
What changed recently
The most significant change was the transition of the Logistics & Transportation presidency from D. Scott Pryor to Benjamin J. Branstetter in March 2026.
- departed
- newBenjamin J. Branstetter President, Logistics & Transportation
Appointed effective March 1, 2026
Source - Date not confirmed promoted
Leadership Timeline
Year-over-year executive structure based on SEC proxy and annual filings.
FY2025
DEF 14A filed 2026-03-26
- CEO
- Matthew J. Meloy
- CEO span
- 6
- C-suite
- 6
- Avg tenure
- 4.3 yr
Divisional presidents report directly to the CEO.
Named executive officers (5)
- Matthew J. Meloy - CEO since 2020
- Jennifer R. Kneale - President since 2025
- Patrick J. McDonie - President G&P since 2018
- Benjamin J. Branstetter - President L&T since 2026
- Robert M. Muraro - CCO since 2018
Frequently Asked Questions
Who is the CEO of Targa Resources?
Matthew J. Meloy has served as CEO since March 1, 2020.
What type of organizational structure does Targa Resources use?
Targa uses a divisional structure centered on its two operating segments.
How many direct reports does Targa Resources's CEO have?
The CEO has six direct executive reports.
How has Targa Resources's leadership changed recently?
In 2025–2026, the company promoted a new President and transitioned its Logistics & Transportation segment leadership.
Does Targa Resources have a COO?
No, Targa does not have a COO; segment presidents report directly to the CEO.
Sources
- 8-K Filing, Aug 2025
- Company Proxy Statement, Mar 2025
- SEC EDGAR: Targa Resources Corp. DEF 14A Proxy Statement
- SEC EDGAR: Targa Resources Corp. 10-K Annual Report
Reference
Cite this page
If you reference this page in research, analysis, or news writing, use one of the formats below. Citation includes the SEC filing source where applicable.
APA 7th
Creately. (2026). Targa Resources Corp. organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/targa-resources/MLA 9th
"Targa Resources Corp. Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/targa-resources/. Accessed .Chicago 17
Creately. "Targa Resources Corp. Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/targa-resources/.Original SEC source View on SEC ↗
Targa Resources Corp.. DEF 14A. Filed 2026-03-26. U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/1389170/000119312526126280/trgp-20260326.htmPermanent URL: https://creately.com/org-chart/fortune-500/targa-resources/ · last updated 2026-04-01