8-KLeadership ChangesRegulation FDOther Events+1

WILLIAMS COMPANIES, INC. 8-K Report, Executive Changes (May 5, 2025)

Filed May 5, 2025For Securities:WMB

Summary

Williams Companies, Inc. (WMB) has announced a significant leadership transition, effective July 1, 2025. Chad J. Zamarin will assume the roles of President and Chief Executive Officer, and also join the Board of Directors. This appointment marks a strategic shift, with current CEO Alan S. Armstrong transitioning to the role of Executive Chairman of the Board. Mr. Zamarin, with extensive experience in corporate strategic development and a background in the midstream energy sector, is poised to lead the company into its next phase. This leadership change comes with a compensation package for Mr. Zamarin, including a $1,000,000 base salary, a $2,500,000 RSU award (60% performance-based, 40% time-based), and eligibility for annual incentives. Alan S. Armstrong will receive a $750,000 base salary in his new role as Executive Chairman. Additionally, the Board composition will slightly change with Mr. Zamarin's appointment, increasing its size to 12 directors, and Stephen W. Bergstrom will transition to an independent Lead Director role.

Key Highlights

  • 1Chad J. Zamarin appointed President and CEO and will join the Board of Directors, effective July 1, 2025.
  • 2Alan S. Armstrong will transition from CEO to Executive Chairman of the Board.
  • 3Zamarin's compensation includes a $1,000,000 base salary and a $2,500,000 restricted stock unit award.
  • 4Armstrong's new role as Executive Chairman will have a base salary of $750,000.
  • 5The Board size will increase from 11 to 12 directors upon Zamarin's appointment.
  • 6Stephen W. Bergstrom will transition to the role of independent Lead Director.
  • 7The company also furnished a press release detailing these executive and board changes.

Frequently Asked Questions

This 8-K filing announces significant leadership changes at The Williams Companies, Inc. (WMB), including the appointment of a new President and CEO, Chad J. Zamarin, and a transition for the current CEO, Alan S. Armstrong, to Executive Chairman.

Chad J. Zamarin, 48, has a strong internal track record at Williams, serving as Executive Vice President, Corporate Strategic Development since January 2023. Prior to that, he was Senior Vice President, Corporate Strategic Development. He also has prior experience as President – Pipeline and Midstream for Cheniere Energy, Inc., indicating substantial experience in the energy infrastructure sector.

Alan S. Armstrong will transition to the role of Executive Chairman of the Board, effective July 1, 2025. He will continue to have a leadership role on the Board but will no longer be the day-to-day Chief Executive Officer.

Mr. Zamarin's compensation package includes an annual base salary of $1,000,000, a one-time restricted stock unit award totaling $2,500,000 (split 60% performance-based and 40% time-based), and eligibility for annual incentive plan awards targeted at 150% of his base salary. He will also be eligible for long-term incentive awards.