Summary
This 8-K filing announces a significant leadership change at EQT Corporation (EQT). Steven T. Schlotterbeck has resigned as President and Chief Executive Officer, effective March 14, 2018, citing dissatisfaction with his compensation. Concurrently, the Board of Directors has appointed David L. Porges, the current Chairman of the Board, as Interim President and Chief Executive Officer. Mr. Porges brings extensive experience with EQT and its affiliated entities, having held numerous leadership roles including previous CEO positions. He will serve in this interim capacity until a permanent successor is identified. Investors should monitor the company's strategic direction and any potential changes under new leadership, as well as the process for selecting a permanent CEO.
Key Highlights
- 1Steven T. Schlotterbeck resigned as President and CEO of EQT Corporation, effective March 14, 2018.
- 2Mr. Schlotterbeck's stated reason for resignation was dissatisfaction with his compensation.
- 3David L. Porges, Chairman of the Board, has been appointed Interim President and CEO.
- 4Mr. Porges has a deep and long-standing history with EQT and its related entities (EQGP, EQM, RMP).
- 5The company is actively seeking to elect a permanent President and CEO.
- 6Mr. Porges' compensation has not changed as of the filing date, with his previous salary as Executive Chairman being $850,000 annually.