Summary
Energy Transfer LP (ET) has filed an 8-K reporting a change in its board of directors. Richard D. Brannon has resigned from the board of directors of LE GP, LLC, the general partner of Energy Transfer LP, effective immediately. This resignation is in connection with his appointment as chairman of the board of directors of the managing member of SunocoCorp LLC, a company in which Energy Transfer LP holds a 100% equity interest in its managing member. While this change impacts the board composition, it's important for investors to note that Mr. Brannon's departure was not a result of any disagreements related to the Company's or Partnership's operations, practices, or policies. The filing also notes that Matthew S. Ramsey will join the audit committee of the board, replacing Mr. Brannon in that capacity.
Key Highlights
- 1Richard D. Brannon resigns from the Energy Transfer LP board of directors (LE GP, LLC) effective immediately.
- 2Mr. Brannon's resignation is due to his new role as chairman of the board of SunocoCorp LLC.
- 3Energy Transfer LP owns 100% of the equity interest in the managing member of SunocoCorp LLC.
- 4The resignation is not due to any disagreements regarding operations, practices, or policies.
- 5Matthew S. Ramsey has been appointed to the audit committee, replacing Mr. Brannon.