Summary
Enterprise Products Partners L.P. (EPD) announced significant executive leadership changes effective August 1, 2007, via an 8-K filing on July 26, 2007. Dr. Ralph S. Cunningham will step down as COO and interim CEO of the general partner to assume leadership roles at Enterprise GP Holdings L.P., the parent company. Concurrently, Michael A. Creel has been promoted from Executive Vice President and CFO to President and Chief Executive Officer of EPD's general partner. These changes signal a new leadership chapter for the company, with Mr. Creel, a seasoned executive with deep financial and operational experience within EPD, poised to guide the partnership. The filing also details promotions for W. Randall Fowler to Executive Vice President and CFO, and William Ordemann to Executive Vice President and COO, indicating internal succession planning and continuity in key operational and financial roles.
Key Highlights
- 1Effective August 1, 2007, Michael A. Creel has been promoted to President and Chief Executive Officer of Enterprise Products GP, LLC, the general partner of EPD.
- 2Dr. Ralph S. Cunningham will resign as Executive Vice President, Chief Operating Officer, and interim President and CEO of the general partner, moving to a leadership role at the parent company, Enterprise GP Holdings L.P.
- 3W. Randall Fowler has been promoted to Executive Vice President and Chief Financial Officer.
- 4William Ordemann has been promoted to Executive Vice President and Chief Operating Officer.
- 5The report includes details on the extensive experience and previous roles of the newly appointed executives.
- 6A press release dated July 23, 2007, detailing these changes is furnished as an exhibit.
- 7The changes reflect internal succession planning and a transition in top leadership for the partnership.