Summary
This 8-K filing from ONEOK Inc. reports a change in its Board of Directors, specifically the resignation of Kevin S. McCarthy, effective May 2, 2017. Mr. McCarthy's departure is attributed to his increased responsibilities at Kayne Anderson Acquisition Corp. following its recent IPO. Importantly, the filing clarifies that his resignation was not due to any disagreements with ONEOK regarding its operations, policies, or practices, which is a positive signal for investors.
Key Highlights
- 1Kevin S. McCarthy resigned as a director of ONEOK, Inc. effective May 2, 2017.
- 2The resignation is due to Mr. McCarthy's increased responsibilities at Kayne Anderson Acquisition Corp.
- 3Mr. McCarthy's departure is not a result of any disagreement with ONEOK.
- 4The size of the Board of Directors has been reduced from 11 to 10 members.
- 5Mr. McCarthy will no longer be standing for re-election at the 2017 Annual Meeting of Shareholders.
- 6Proxy materials for the 2017 Annual Meeting have been amended to reflect his withdrawal as a nominee.
- 7The company's slate of director nominees otherwise remains unchanged.