8-KLeadership ChangesExhibits & Filings

ENTERPRISE PRODUCTS PARTNERS L.P. 8-K Report, Executive Changes (Jan 6, 2016)

Filed January 6, 2016For Securities:EPDEPDU

Summary

Enterprise Products Partners L.P. (EPD) filed an 8-K on January 6, 2016, reporting significant changes to its Board of Directors for the General Partner, effective January 5, 2016. Dan Duncan LLC, the sole member of the General Partner, elected a new slate of directors, including the addition of Richard H. Bachmann as a new member and non-executive Vice Chairman. Notably, two previous directors, Thurmon M. Andress and E. William Barnett, were not reelected. In addition to the board changes, the filing details a significant role change for W. Randall Fowler, who moves from Chief Administrative Officer to President of the General Partner, with expanded responsibilities including overall financial strategy oversight. These changes in leadership and governance structure are key developments for investors to monitor as they may influence the company's strategic direction and financial oversight.

Key Highlights

  • 1New Board of Directors elected for the General Partner, effective January 5, 2016, by Dan Duncan LLC.
  • 2Richard H. Bachmann appointed as a new director and non-executive Vice Chairman of the Board.
  • 3Two existing directors, Thurmon M. Andress and E. William Barnett, were not reelected to the Board.
  • 4W. Randall Fowler appointed as President of the General Partner, taking on broader financial strategy responsibilities.
  • 5Randa Duncan Williams will continue as non-executive Chairman of the Board.
  • 6Audit and Conflicts Committee and Governance Committee leadership and membership have been reconstituted.
  • 7The changes were announced via a press release filed as an exhibit to the 8-K.

Frequently Asked Questions

This 8-K filing primarily announces changes to the Board of Directors of Enterprise Products Partners L.P.'s General Partner, including the election of new members and a change in officer roles.

Richard H. Bachmann is a new member of the Board of Directors and has been appointed as the non-executive Vice Chairman. He has a background with Enterprise Products Company (EPCO) and previously served on the General Partner's board.

As President, W. Randall Fowler is now responsible for managing the overall financial strategy of the Partnership, overseeing areas like accounting, risk management, finance, treasury, cash management, IT, investor relations, and governmental/public relations. He will also provide certifications as a co-principal financial officer.

Yes, Thurmon M. Andress and E. William Barnett, who previously served as directors, were not reelected to the Board.