Crosstex Energy Appoints Leldon E. Echols to Board of Directors
January 03 2008 - 6:30AM
Business Wire
Crosstex Energy, L.P. (NASDAQ:XTEX) (the Partnership) and Crosstex
Energy Inc. (NASDAQ:XTXI) (the Corporation) announced today that
Leldon (Lel) E. Echols will join the Board of Directors of Crosstex
Energy GP, LLC (the general partner of Crosstex Energy GP, L.P.,
the general partner of the Partnership) and the Board of Directors
of the Corporation to fill the vacancies created by Frank M. Burke
Jr., who announced his retirement in 2007. Burke began his board
service with the Crosstex companies in 2003 and has served as
chairman of the Audit Committees of both companies. A noted author
on energy taxation and financial reporting for energy companies, he
led the companies� development of financial reporting and audit
practices during times of significant growth and change. �I am
honored to have had the opportunity to work with Frank,� said Barry
E. Davis, Crosstex President and Chief Executive Officer. �His
leadership, integrity and contributions helped establish our strong
foundation for growth. Frank has been a tremendous asset � and
truly sets the right �tone at the top� that is essential for young
companies like Crosstex. We will miss Frank and what he brought to
our boards. �However, we are excited about Lel Echols joining our
organization. We welcome his accounting, audit and management
expertise and counsel as we continue our rapid growth. I am
confident Lel will make a valuable contribution to the
implementation of our business strategy and our continued success,�
Davis added. Echols brings 30 years of financial and business
experience to Crosstex. After 20 years with accounting and
consulting firm Arthur Andersen LLP, which included serving as
managing partner of the firm�s audit and business advisory practice
in North Texas, Colorado and Oklahoma, Echols spent six years with
Centex Corporation as executive vice president and chief financial
officer. He retired from Centex Corporation in June 2006. Since
then, he has continued to serve on company boards, managed private
investments, and pursued public service and charitable endeavors.
Echols is a member of the boards of directors of another publicly
traded company, Trinity Industries, Inc. (NYSE:TRN), and two
private companies, Roofing Supply Group Holdings, Inc. and Colemont
Corporation. He also served on the board of TXU Corp. (NYSE:TXU)
where he chaired the Audit Committee and was a member of the
Strategic Transactions Committee until the closing of the recently
completed private equity buyout of TXU. Echols is active in the
Dallas community. He is a board member of the Dallas area chapter
of the American Red Cross, United Way of Metropolitan Dallas,
Circle Ten Council of the Boy Scouts of America and Baylor Health
Care System Foundation. He earned a bachelor of science degree in
accounting from Arkansas State University and is a Certified Public
Accountant. He is a member of the American Institute of Certified
Public Accountants and the Texas Society of CPAs. About the
Crosstex Energy Companies Crosstex Energy, L.P., a midstream
natural gas company headquartered in Dallas, operates over 5,000
miles of pipeline, 13 processing plants, four fractionators, and
approximately 200 natural gas amine-treating plants and dew point
control plants. Crosstex currently provides services for over 3.5
Bcf/day of natural gas, or approximately 7.0 percent of marketed
U.S. daily production. Crosstex Energy, Inc. owns the two percent
general partner interest, a 38 percent limited partner interest,
and the incentive distribution rights of Crosstex Energy, L.P.
Additional information about the Crosstex companies can be found at
www.crosstexenergy.com.
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