Williams Cos Names John Chandler as New CFO -- Update
August 28 2017 - 04:56PM
Dow Jones News
By Ezequiel Minaya
Pipeline company Williams Cos. on Monday named John Chandler as
its new chief financial officer, replacing Don Chappel, who
announced his retirement earlier this year.
Mr. Chandler is slated to start his new role Sept. 5. He will
receive a base salary of $525,000 and an equity award valued at
$500,000. He also will be eligible for other incentive-based awards
and benefits.
Mr. Chandler, 47 years old, previously served as finance chief
for pipeline operator Magellan Midstream Partners LP. He worked at
Magellan entities from 2002 to 2014.
"John is a deeply experienced chief financial officer who is
well-known in the energy markets and within Williams," said Alan
Armstrong, Williams's president and chief executive.
Mr. Chandler also has been a board member at USA Compression
Partners LP, Cone Midstream Partners LP, Green Plains Partners LP
and Matrix Service Co.
Last year, nearly half of Williams's board members quit after a
failed attempt at forcing out the company's CEO, Mr. Armstrong,
following the collapse of a merger deal with Energy Transfer Equity
LP. Earlier this year, the company added Micheal Dunn as chief
operating officer.
In July, the company completed the sale of its stake of an
olefins plant in Louisiana to Nova Chemicals Corp. for $2.1 billion
as part of its plans to focus on natural gas. During a call with
analysts earlier this month, Mr. Armstrong said the company now
stands "at around 97% of our gross margins coming from predictable
fee-based sources that are aligned with natural gas volumes."
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
August 28, 2017 16:41 ET (20:41 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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