Summary
Enterprise Products Partners L.P. (EPD) filed an 8-K on November 13, 2017, to report a change in its Board of Directors. Dr. F. Christian Flach, who was initially appointed to the Board of Directors of Enterprise Products Holdings LLC, the general partner of EPD, as a designee of Marquard & Bahls, AG ("M&B") and appointed by Dan Duncan LLC, has resigned from the Board. His resignation was effective as of November 10, 2017. While M&B reserves the right to appoint a replacement designee under the terms of the Purchase Agreement, no successor has been named at the time of this filing. Investors should monitor future filings for any updates on board composition. This event does not appear to have immediate financial implications but signals a change in board representation that could be relevant for governance analysis.
Key Highlights
- 1Dr. F. Christian Flach has resigned from the Board of Directors of Enterprise Products Holdings LLC, the general partner of EPD.
- 2Dr. Flach's resignation was effective November 10, 2017.
- 3Dr. Flach was initially appointed as a designee of Marquard & Bahls, AG (M&B) and also by Dan Duncan LLC.
- 4M&B has not yet selected a replacement for Dr. Flach on the Board.
- 5M&B reserves its right to select a replacement designee as per the Purchase Agreement.
- 6The filing date of this 8-K was November 13, 2017, with an event date of November 7, 2017.