8-KLeadership ChangesExhibits & Filings

ENTERPRISE PRODUCTS PARTNERS L.P. 8-K Report, Executive Changes (Mar 30, 2015)

Filed March 30, 2015For Securities:EPDEPDU

Summary

This 8-K filing from Enterprise Products Partners L.P. (EPD) on March 30, 2015, announces significant executive leadership changes, including the planned retirement of CEO Michael A. Creel at the end of 2015. A. James Teague, currently Chief Operating Officer, is slated to succeed Mr. Creel as CEO. The filing also details changes to other key financial and administrative roles, aiming to ensure a smooth transition and continued strategic direction. These executive shifts are crucial for investors to monitor as they signal continuity and future leadership within the partnership. The appointment of Mr. Teague, who has extensive experience within EPD, suggests a focus on operational and commercial continuity. The restructuring of Mr. Fowler's role and the promotion of Mr. Bulawa to CFO indicate a deliberate approach to financial strategy and oversight, important for maintaining investor confidence and financial discipline.

Key Highlights

  • 1Michael A. Creel, CEO of the General Partner, intends to retire by the end of 2015.
  • 2A. James Teague, currently COO, has been elected to succeed Mr. Creel as CEO.
  • 3W. Randall Fowler transitions from EVP and CFO to Chief Administrative Officer, retaining oversight of financial strategy, treasury, investor relations, and governmental affairs.
  • 4Bryan F. Bulawa is appointed as the new Senior Vice President and Chief Financial Officer.
  • 5These changes are effective with Mr. Teague's succession upon Mr. Creel's retirement and other appointments effective April 1, 2015.
  • 6The filing includes biographical information for the key individuals, highlighting their experience within EPD and related entities.
  • 7A press release detailing these changes is attached as Exhibit 99.1.

Frequently Asked Questions

EPD announced that CEO Michael A. Creel will retire at the end of 2015. A. James Teague, currently COO, will become the new CEO. Additionally, W. Randall Fowler will move from EVP and CFO to Chief Administrative Officer, and Bryan F. Bulawa will be appointed as the new Senior Vice President and Chief Financial Officer.

The succession of A. James Teague as CEO will occur upon Michael A. Creel's retirement at the end of the 2015 calendar year. The other executive management changes, including the appointments of Mr. Fowler and Mr. Bulawa, are effective as of April 1, 2015.

W. Randall Fowler is now the Chief Administrative Officer. In this role, he is responsible for managing the overall financial strategy, overseeing finance, treasury, cash management, investor relations, governmental affairs, and public relations. He will also provide required certifications as a co-principal financial officer.

A. James Teague, aged 70, has extensive experience with EPD, serving as Chief Operating Officer since 2010 and on the board of directors since 2008. He has held various executive roles, including Executive Vice President and Chief Commercial Officer, and joined the partnership in 1999.