NextDecade Board Elects Interim Chairman
May 14 2019 - 4:30PM
Business Wire
NextDecade Corporation (NextDecade) (NASDAQ: NEXT) announced
today that its Board of Directors (Board) voted to elect Matthew W.
Bonanno, a Non-Executive Director, to act as Interim Chairman of
the Board following the recent untimely death of Chairman Kathleen
M. Eisbrenner. The Board expects to appoint a permanent Chairman by
NextDecade’s Annual General Meeting of the Stockholders, which will
occur in July 2019.
Mr. Bonanno is a Partner and the Co-Head of North American
Credit at York Capital Management (York). Mr. Bonanno led York’s
investment in NextDecade and has served as a member of the Board
since 2014. Prior to joining York in 2010, Mr. Bonanno was an
associate at The Blackstone Group. He also previously worked for
News Corporation, JP Morgan, and Goldman Sachs.
“Kathleen will be missed by all of us on the Board,” said Mr.
Bonanno. “We remain firmly committed to the realization of
Kathleen’s vision for NextDecade, which is to become a leading U.S.
LNG exporter focused on delivering reliable, clean-burning natural
gas to our customers around the world.”
About NextDecade Corporation
NextDecade is a liquified natural gas (LNG) development company
focused on LNG export projects and associated pipelines in Texas.
NextDecade intends to develop the largest LNG export solution
linking Permian Basin associated gas to the global LNG market,
creating value for producers, customers, and stockholders. Its
portfolio of LNG projects includes the 27 mtpa Rio Grande LNG
export facility in Brownsville, Texas and the 4.5 Bcf/d Rio Bravo
Pipeline that would transport natural gas from the Agua Dulce area
to Rio Grande LNG. NextDecade’s common stock is listed on the
Nasdaq Stock Market under the symbol “NEXT.” NextDecade is
headquartered in Houston, Texas. For more information, visit
www.next-decade.com.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING
STATEMENTS
This press release contains forward-looking statements within
the meaning of U.S. federal securities laws. The words
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,”
“might,” “plan,” “potential,” “project,” “should,” “will” and
similar expressions are intended to identify forward-looking
statements, and these statements may relate to the business of
NextDecade and its subsidiaries. These statements have been based
on NextDecade’s current assumptions, expectations, and projections
about future events and involve a number of known and unknown
risks, which may cause actual results to differ materially from
expectations expressed or implied in the forward-looking
statements. These risks include uncertainties about NextDecade’s
Rio Grande LNG and Rio Bravo Pipeline projects; its ability to
secure additional debt and equity financing in the future to
complete its contemplated projects; the accuracy of the estimated
costs for the projects; governmental approval of construction and
operation of the projects; the successful completion of the
projects by third-party contractors; its ability to generate cash;
the development risks, operational hazards, regulatory approvals
applicable to the projects’ construction and operations activities;
its anticipated competitive advantage; the global demand for and
price of natural gas (versus the price of imported LNG); the
availability of LNG vessels worldwide; legislation and regulations
relating to the LNG industry; negotiations for the project site
lease and right-of-way options for the pipeline route; compliance
with environmental laws and regulations; the result of future
financing efforts and applications for customary tax incentives;
and other matters discussed in the “Risk Factors” section of
NextDecade’s Annual Report on Form 10-K for the year ended December
31, 2018 and other subsequent reports filed with the Securities and
Exchange Commission, all of which are incorporated herein by
reference.
Additionally, any development of the projects remains contingent
upon completing required commercial agreements; acquiring all
necessary permits and approvals; securing all financing commitments
and potential tax incentives; achieving other customary conditions;
and making a final investment decision to proceed. The
forward-looking statements in this press release speak as of the
date of this release. Although NextDecade believes that the
expectations reflected in these forward-looking statements are
reasonable, it can give no assurance that the expectations will
prove to be correct. NextDecade may from time to time voluntarily
update its prior forward-looking statements, however, it disclaims
any commitment to do so except as required by securities laws.
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