Enterprise Family of Partnerships Restructures BOD Members
Enterprise, Duncan Energy and Enterprise GP Holdings announced they have realigned the responsibilities of several management directors serving on the boards of their respective general partners as part of an overall initiative to strengthen the partnerships' corporate governance policies. The changes, which took effect on May 21, 2010, resulted in a majority of each board being comprised of non-management directors. Furthermore, the realignment eliminates the previous overlap of individuals serving on the board of directors for more than one of the affiliated partnerships.
Enterprise Products Partners
Resigning from the board of Enterprise Products, the general partner of Enterprise Products Partners L.P., are: Richard H. Bachmann, Dr. Ralph S. Cunningham and W. Randall Fowler. After giving effect to the changes,the EPGP board is now comprised of Michael A. Creel (president and chief executive officer), A.J. "Jim" Teague (executive vice president and chief commercial officer), and non-management directors E. William Barnett, Charles M. Rampacek and Rex C. Ross.
Duncan Energy Partners
Resigning from the board of DEP Holdings, the general partner of Duncan Energy Partners L.P., are: Richard H. Bachmann; Michael A. Creel, Dr. Ralph S. Cunningham and A.J. "Jim" Teague. After giving effect to the changes, the DEP GP board is now comprised of W. Randall Fowler (president and chief executive officer) and non-management directors William A. Bruckmann III, Larry J. Casey, Joe D. Havens and Richard S. Snell.
Enterprise GP Holdings
Resigning from the board of EPE Holdings, the general partner of Enterprise GP Holdings L.P., are: Michael A. Creel, W. Randall Fowler and A.J. "Jim" Teague. After giving effect to the changes, the EPE GP board is now comprised of Dr. Ralph S. Cunningham (president and chief executive officer), Richard H. Bachmann (executive vice president) and non-management directors O.S. "Dub" Andras, Randa Duncan Williams, Charles E. McMahen, Thurmon M. Andress and Edwin E. Smith.
The changes to the boards of directors do not impact the structure of the various business units, their strategic focus or the senior management team responsible for the partnerships' commercial and operational success.