Why did ONEOK Inc. expand its Board of Directors?

ONEOK Inc. expanded its Board of Directors to increase its size from 11 to 13 members. This expansion was accompanied by the election of two new directors, suggesting a strategic effort to enhance the board's expertise, oversight, and governance capabilities.

What relevant experience do the new directors bring to ONEOK?

Julie H. Edwards brings significant financial and corporate development experience, having served as CFO and Senior Vice President of Southern Union Company and Executive Vice President of Frontier Oil Corporation. Jim W. Mogg has extensive leadership experience in the midstream energy sector, including roles at DCP Midstream and Duke Energy, and has served as Chairman and CEO of various energy-related entities.

On which committees will the new directors serve?

Julie H. Edwards will serve on the Audit Committee and the Corporate Governance Committee. Jim W. Mogg will serve on the Executive Compensation Committee and the Corporate Governance Committee.

Are there any other significant financial events reported in this 8-K?

This particular 8-K filing (dated June 25, 2007) primarily focuses on the changes to the Board of Directors. It also lists Exhibit 99.1, which is a press release dated June 21, 2007, related to these director appointments.

OKE 8-K: Leadership Changes

Summary

ONEOK Inc. announced a significant expansion of its Board of Directors on June 21, 2007, increasing its size from 11 to 13 members. This strategic move involved the election of two new directors: Julie H. Edwards and Jim W. Mogg. These appointments are aimed at strengthening the board's expertise and oversight, particularly in critical areas such as audit, corporate governance, and executive compensation. Both Ms. Edwards and Mr. Mogg bring extensive experience from senior leadership roles in the energy and financial sectors. Ms. Edwards' background includes CFO and corporate development roles at Southern Union Company and Frontier Oil Corporation, while Mr. Mogg has a strong track record in leadership positions at DCP Midstream and Duke Energy. Their addition is likely intended to enhance ONEOK's strategic direction and governance capabilities.

Key Highlights

1ONEOK Inc. expanded its Board of Directors from 11 to 13 members.
2Julie H. Edwards was elected as a Class C director.
3Jim W. Mogg was elected as a Class B director.
4Julie H. Edwards appointed to the Audit Committee and Corporate Governance Committee.
5Jim W. Mogg appointed to the Executive Compensation Committee and Corporate Governance Committee.
6Both new directors have substantial experience in the energy and financial industries.
7The company announced the director changes on June 21, 2007, effective with the board expansion.

ONEOK INC /NEW/ 8-K Report, Executive Changes (Jun 25, 2007)

Summary

Key Highlights

Frequently Asked Questions