Company CFO to succeed interim CEO Pete Delaney
Enable Midstream Partners, LP (NYSE: ENBL) today announced that its
Board of Directors appointed company Executive Vice President and Chief
Financial Officer Rodney (Rod) J. Sailor as President, Chief Executive
Officer and member of the Board of Directors effective Jan. 1, 2016.
Sailor will succeed interim CEO Pete Delaney. Delaney was named interim
President and Chief Executive Officer effective June 1, 2015, following
the departure of former CEO Lynn L. Bourdon.
“The pace of change within the energy sector is exponential. Enable’s
next CEO must thrive in a dynamic environment, must accelerate its
growth through understanding of the competitive landscape, and leverage
the people and financial resources to capitalize on its position of
strength,” said Alan Harris, Enable Board member and chair of the CEO
search committee. “As a search committee, we looked at many leaders from
across the energy sector for the ideal candidate. What we found with Rod
was the right mix of character, experience and skills to ensure
leadership and strategic continuity. He also demonstrated a commitment
to building on Enable’s established, strong foundation and furthering
the growth of a results-driven culture. He is clearly the leader for the
company’s future and has the unanimous support of the Board of
Directors.”
Delaney added that Sailor, who has demonstrated true leadership and
character during the transition period, has played a major role in
pushing the company’s strategy forward and strengthening the teamwork of
the senior leadership team.
“Rod has the business experience, leadership skills and forward vision
to lead Enable in the years ahead,” Delaney said. “I’ve had the
opportunity to work with him closely and have observed his breadth of
leadership and the strength of his commitment to Enable and to our
values-based culture that guides us forward. Under Rod’s leadership, the
company has built and maintained a strong balance sheet and sustained
distribution growth. I’m convinced there is no better leader for Enable
today.”
Sailor, 56, is a long-time energy industry veteran having held a variety
of leadership positions in corporate finance, strategic planning and
development, accounting and international finance. Prior to joining
Enable, he served as senior vice president and chief financial officer
at WPX Energy. He also served as vice president and treasurer for The
Williams Companies where he was instrumental in the formation of two
master limited partnerships.
“I joined Enable about 18 months ago because I wanted to be a part of a
company where I believed we could create something special,” Sailor
said. “Today, I still hold that belief. We have great opportunities
before us, and being entrusted to lead our people and this company into
the future is incredibly humbling and exhilarating. Pete, in his short
time with us as CEO, has contributed significantly to positively shaping
our culture, and I look forward to building on the momentum he has
established. And, at a time when our industry is in the midst of more
disruption than we’ve encountered in a decade, I couldn’t be more
confident in our ability to win, and more honored to lead.”
ABOUT ENABLE MIDSTREAM
Enable Midstream owns, operates and develops strategically located
natural gas and crude oil infrastructure assets. The company’s assets
include approximately 12,300 miles of gathering pipelines, 13 major
processing plants with approximately 2.3 billion cubic feet per day of
processing capacity, approximately 7,900 miles of interstate pipelines
(including Southeast Supply Header, LLC of which Enable Midstream owns
50 percent), approximately 2,200 miles of intrastate pipelines and eight
storage facilities comprising 87.5 billion cubic feet of storage
capacity. For more information visit EnableMidstream.com.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within
the meaning of the securities laws. All statements, other than
statements of historical fact, regarding Enable Midstream Partners’
strategy, future operations, financial position, estimated revenues,
projected costs, prospects, plans and objectives of management are
forward-looking statements. These statements often include the
words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,”
“project,” “forecast” and similar expressions and are intended to
identify forward-looking statements, although not all forward-looking
statements contain such identifying words. These forward-looking
statements are based on Enable Midstream’s current expectations and
assumptions about future events and are based on currently available
information as to the outcome and timing of future events. Enable
Midstream assumes no obligation to and does not intend to update any
forward-looking statements included herein. When considering
forward-looking statements, you should keep in mind the risk factors and
other cautionary statements described under the heading “Risk Factors”
included in our SEC filings. Enable Midstream cautions you that
these forward-looking statements are subject to all of the risks and
uncertainties, most of which are difficult to predict and many of which
are beyond its control, incident to the ownership, operation and
development of natural gas and crude oil infrastructure assets.
These risks include, but are not limited to, contract renewal risk,
commodity price risk, environmental risks, operating risks, regulatory
changes and the other risks described under “Risk Factors” in our SEC
filings. Should one or more of these risks or uncertainties
occur, or should underlying assumptions prove incorrect, Enable
Midstream’s actual results and plans could differ materially from those
expressed in any forward-looking statements.
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