Energy Transfer Announces Executive Management Changes
October 08 2020 - 6:00PM
Business Wire
Longtime Executives Mackie McCrea and Tom Long
named as Co-Chief Executive Officers Kelcy Warren to remain
Executive Chairman
Dallas-based Energy Transfer LP (NYSE: ET) announced today that
long-time Energy Transfer executives Mackie McCrea and Tom Long
have been named as Co-Chief Executive Officers, effective January
1, 2021. Energy Transfer co-founder Kelcy Warren will remain as
Executive Chairman of Energy Transfer and Chairman of the Board of
Directors. As Co-CEOs, McCrea and Long will work together in the
manner of an “Office of the CEO” and will jointly direct the
business of the Partnership. Warren will continue to be actively
involved in the strategic direction of the Partnership.
McCrea first joined the Partnership in 1997 as Senior Vice
President Business Development. Since that time he has served in a
number of leadership roles including Group Chief Operating Officer
and Chief Commercial Officer of Energy Transfer Operating, L.P.,
and most recently as President and Chief Commercial Officer of
Energy Transfer. McCrea also serves on the Energy Transfer Board of
Directors.
Long has served as the Partnership’s Chief Financial Officer
since February of 2016. Prior to assuming this role, he served for
five years as Executive Vice President and Chief Financial Officer
of Regency Energy Partners LP, which was acquired by Energy
Transfer in 2010. Before that, he held leadership positions with
Matrix Service Company and DCP Midstream Partners, LP, among
others. Long also serves on the Boards of Directors of Energy
Transfer and Sunoco LP, and is Chairman of the Board of USA
Compression Partners, LP.
Warren, who has been a leader in the energy industry for more
than 40 years, co-founded Energy Transfer in 1996 with
approximately 200 miles of natural gas pipelines and 20 employees.
Today, Energy Transfer is an international company with the largest
and most diversified portfolio of energy assets in the United
States.
“Although I am stepping away from the day-to-day management of
our business, I will continue to be intimately involved in the
strategic growth of Energy Transfer,” said Warren. “I could not be
more proud to pass the reins to Mackie and Tom. Both have greatly
contributed to our success, which I know they will continue in
their new roles. I have the utmost respect for them personally and
professionally, and I know that they, along with the rest of the
senior management team, will continue to provide outstanding
leadership for our more than 10,000 employees and value for our
unitholders.”
Energy Transfer LP (NYSE: ET) owns and operates one of
the largest and most diversified portfolios of energy assets in the
United States, with a strategic footprint in all of the major
domestic production basins. ET is a publicly traded limited
partnership with core operations that include complementary natural
gas midstream, intrastate and interstate transportation and storage
assets; crude oil, NGL and refined product transportation and
terminalling assets; NGL fractionation; and various acquisition and
marketing assets. ET, through its ownership of Energy Transfer
Operating, L.P., also owns Lake Charles LNG Company, as well as the
general partner interests, the incentive distribution rights and
28.5 million common units of Sunoco LP (NYSE: SUN), and the general
partner interests and 46.1 million common units of USA Compression
Partners, LP (NYSE: USAC). For more information, visit the Energy
Transfer LP website at www.energytransfer.com.
Forward-Looking Statements This news release may include
certain statements concerning expectations for the future that are
forward-looking statements as defined by federal law. Such
forward-looking statements are subject to a variety of known and
unknown risks, uncertainties, and other factors that are difficult
to predict and many of which are beyond management’s control. An
extensive list of factors that can affect future results are
discussed in the Partnership’s Annual Report on Form 10-K and other
documents filed from time to time with the Securities and Exchange
Commission, including the Partnership’s Quarterly Report on Form
10-Q to be filed for the current period. In addition to the risks
and uncertainties previously disclosed, the Partnership has also
been, or may in the future be, impacted by new or heightened risks
related to the COVID-19 pandemic and the recent decline in
commodity prices, and we cannot predict the length and ultimate
impact of those risks. The Partnership undertakes no obligation to
update or revise any forward-looking statement to reflect new
information or events.
The information contained in this press release is available on
our website at www.energytransfer.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20201008006061/en/
Energy Transfer Media Relations Vicki Granado or Lisa
Coleman 214.840.5820 Media@energytransfer.com
Energy Transfer Investor Relations Bill Baerg, Brent
Ratliff, Lyndsay Hannah 214.981.0795
investorrelations@energytransfer.com
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