8-KLeadership Changes

Energy Transfer LP 8-K Report, Executive Changes (May 5, 2006)

Filed May 5, 2006For Securities:ETET-PI

Summary

Energy Transfer Equity, L.P. (ET) filed an 8-K report on May 5, 2006, primarily to announce significant changes to its Board of Directors. Specifically, on May 2, 2006, John D. Harkey, Jr. and Paul E. Glaske were elected to the Board of Directors of LE GP, LLC, the general partner of Energy Transfer Equity, L.P. Additionally, on May 3, 2006, Bill W. Byrne was also elected to the same board. These newly elected directors, Mr. Harkey, Mr. Glaske, and Mr. Byrne, were also appointed as members of the Audit and Conflicts Committee. The filing explicitly states there are no arrangements or understandings with any other persons that led to their election, nor are there any reportable relationships under Item 404(a) of Regulation S-K between these individuals and the Partnership or its General Partner. This report signals changes in the governance structure of Energy Transfer Equity, L.P.

Key Highlights

  • 1Election of John D. Harkey, Jr. to the Board of Directors of LE GP, LLC (General Partner of ET) on May 2, 2006.
  • 2Election of Paul E. Glaske to the Board of Directors of LE GP, LLC on May 2, 2006.
  • 3Election of Bill W. Byrne to the Board of Directors of LE GP, LLC on May 3, 2006.
  • 4All three newly elected directors (Harkey, Glaske, Byrne) were also appointed to the Audit and Conflicts Committee.
  • 5No disclosed arrangements or understandings influenced the election of these directors.
  • 6No relationships requiring disclosure under Item 404(a) of Regulation S-K exist between the new directors and the company.
  • 7This filing pertains to changes in corporate governance and board composition.

Frequently Asked Questions

The main purpose of this 8-K filing is to report the election of new members to the Board of Directors of LE GP, LLC, the general partner of Energy Transfer Equity, L.P., and their subsequent appointment to the Audit and Conflicts Committee.

John D. Harkey, Jr., Paul E. Glaske, and Bill W. Byrne were elected to the Board of Directors of LE GP, LLC.

No. The filing explicitly states that there are no arrangements or understandings with other persons that led to their election and no relationships that require disclosure under Item 404(a) of Regulation S-K.

The appointment of the new directors to the Audit and Conflicts Committee indicates their immediate involvement in overseeing financial reporting, internal controls, and potential related-party transactions, which are crucial governance functions.