Summary
This 8-K filing from Energy Transfer LP, dated June 11, 2007, announces significant leadership changes within the organization. Ray C. Davis, a key figure as Co-Chairman of Energy Transfer Equity, L.P. (ETE) and Co-Chairman and Co-Chief Executive Officer of Energy Transfer Partners, L.P. (ETP), will be retiring from these executive roles after a transition period. While stepping down from his day-to-day operational responsibilities, Mr. Davis will continue to serve on the boards of directors for both ETE and ETP, ensuring a degree of continuity. The departure of Mr. Davis from his executive positions triggers a restructuring of leadership. Kelcy L. Warren, who currently holds co-leadership roles, is slated to become the sole Chief Executive Officer and sole Chairman of ETP, and the sole Chairman of ETE. This transition signifies a consolidation of authority under Mr. Warren, who will now lead both entities unilaterally.
Key Highlights
- 1Ray C. Davis is retiring from his executive roles as Co-Chairman of ETE and Co-Chairman & Co-CEO of ETP.
- 2Mr. Davis will remain on the Boards of Directors for both ETE and ETP.
- 3Kelcy L. Warren will assume the position of sole CEO and Chairman of ETP.
- 4Kelcy L. Warren will also become the sole Chairman of ETE.
- 5The changes are effective following a transition period for Mr. Davis's duties.
- 6The filing includes a press release dated June 11, 2007, as an exhibit detailing these management changes.