8-KLeadership Changes

Energy Transfer LP 8-K Report, Executive Changes (Feb 8, 2016)

Filed February 8, 2016For Securities:ETET-PI

Summary

This 8-K filing from Energy Transfer LP (ET), dated February 8, 2016, primarily addresses a change in its Chief Financial Officer (CFO) role. Following an earlier announcement on February 5, 2016, ET confirms the appointment of Thomas E. Long as CFO, succeeding Jamie Welch. Mr. Long was previously the CFO of Energy Transfer Partners, L.P. The company is also exploring a potential consulting arrangement with Mr. Welch to assist with the LNG export project and financing matters, though no formal agreement is in place yet. Importantly for investors, the filing explicitly states that Mr. Welch's departure from the CFO position was not due to any disagreements concerning accounting or financial matters. This clarification aims to alleviate potential concerns regarding the financial integrity or reporting practices of the company and its affiliates.

Key Highlights

  • 1Confirmation of Thomas E. Long's appointment as Chief Financial Officer (CFO) of Energy Transfer Equity, L.P.
  • 2Jamie Welch has been replaced as CFO by Thomas E. Long.
  • 3Thomas E. Long previously served as CFO of Energy Transfer Partners, L.P.
  • 4Discussions are underway for a potential consulting agreement with Jamie Welch.
  • 5The potential consulting arrangement with Jamie Welch would focus on the LNG export project and financing matters.
  • 6ET affirms that Mr. Welch's CFO replacement was not due to any disagreement on accounting or financial matters.
  • 7The clarification regarding Mr. Welch's departure aims to address investor inquiries.

Frequently Asked Questions

Thomas E. Long has been appointed as the new CFO of Energy Transfer Equity, L.P. He previously held the position of CFO at Energy Transfer Partners, L.P.

The filing states that Jamie Welch was replaced as CFO. Importantly, the company affirms that this decision was not based on any disagreement with respect to any accounting or financial matter involving the Partnership or any of its affiliates.

Energy Transfer Equity, L.P. has initiated discussions with Jamie Welch regarding a potential consulting arrangement. This arrangement would primarily focus on the continued development of the Partnership's LNG export project and other financing matters, though no agreement has been reached at this time.

No, the filing explicitly addresses this by stating that the replacement of Jamie Welch as CFO was not based on any disagreement regarding accounting or financial matters. This is intended to provide assurance to investors.