Consolidation & Innovation Strategy Continues and New Executive
Appointments Announced
EQT Corporation (NYSE: EQT), today, announced that Steven Schlotterbeck
has officially assumed the role of Chief Executive Officer – taking over
for David Porges who retired from the position, staying on as Executive
Chairman of EQT's Board of Directors for a period of one year. A similar
leadership transition occurred for EQT Midstream Partners, LP (NYSE:
EQM) and EQT GP Holdings, LP (NYSE: EQGP), where Schlotterbeck also
assumed the role of CEO for both companies.
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Steven Schlotterbeck Takes the Reins as CEO for EQT (Photo: Business Wire)
"It is a great honor to succeed Dave as the CEO of EQT Corporation and I
am humbled to be entrusted with the responsibility to lead this great
organization forward," said Schlotterbeck. "We have outstanding upstream
and midstream assets; a strong financial position; dedicated leadership
from our Board; and the continued commitment of the most talented
employees in the industry – all contributing to EQT's next phase of
evolution, growth, and shareholder value creation."
"This 'changing of the guard' represents a logical and natural
leadership succession that is part of EQT’s overall strategy and plan
for growth and innovation. Steve has a strong operational focus and I am
confident in his abilities to effectively lead our organization through
its next transformative chapter," said Dave Porges, EQT's Executive
Chairman.
EQT continues to be at the forefront of applying innovative technologies
in the development of the Company's vast natural gas resources, which
are primarily located in the heart of the Marcellus and Utica shale
regions of the Appalachian Basin. With its stringent focus on costs,
strong balance sheet, and uniquely integrated business structure – EQT's
overall strategy of consolidation, innovation, pipeline infrastructure
growth, and customer and market expansion will continue.
Along with the transition of CEO responsibilities, and to reinforce a
commitment to EQT's strategic focus, Schlotterbeck recently announced
his senior management team, the members of which are as follows:
-
David Schlosser was appointed Senior Vice President, EQT
Corporation; and President, Exploration & Production.
-
Lisa Hyland was appointed Senior Vice President, EQT
Corporation; and President, Midstream; and also Senior Vice President
and Chief Operating Officer for the general partner of EQT Midstream
Partners. With Lisa's pending retirement in March 2018, these
positions are interim and an executive search firm has been hired for
the selection process.
-
Rob McNally remains Senior Vice President & Chief Financial
Officer and will assume management responsibilities for the Business
Development, Facilities, Information Technology, Innovation, and
Procurement functions.
-
Lew Gardner remains General Counsel & Vice President, External
Affairs.
-
Charlene Petrelli remains Vice President & Chief Human
Resources Officer.
-
Blue Jenkins was appointed to the newly created role of Chief
Commercial Officer.
-
Pat Kane remains Chief Investor Relations Officer and will
assume management of EQT's Strategy & Competitive Analysis function.
Complete bios for EQT's senior management team can be found on the EQT
website.
About EQT Corporation:
EQT Corporation is an integrated energy company with emphasis on
Appalachian area natural gas production, gathering, and transmission.
With more than 125 years of experience, EQT continues to be a leader in
the use of advanced horizontal drilling technology – designed to
minimize the potential impact of drilling-related activities and reduce
the overall environmental footprint. Through safe and responsible
operations, the Company is committed to meeting the country’s growing
demand for clean-burning energy, while continuing to provide a rewarding
workplace and enrich the communities where its employees live and work.
EQT also owns a 90% limited partner interest in EQT GP Holdings, LP. EQT
GP Holdings, LP owns the general partner interest, all of the incentive
distribution rights, and a portion of the limited partner interests in
EQT Midstream Partners, LP.
Visit EQT Corporation at www.EQT.com
About EQT Midstream Partners:
EQT Midstream Partners, LP is a growth-oriented limited partnership
formed by EQT Corporation to own, operate, acquire, and develop
midstream assets in the Appalachian Basin. The Partnership provides
midstream services to EQT Corporation and third-party companies through
its strategically located transmission, storage, and gathering systems
that service the Marcellus and Utica regions. The Partnership owns
approximately 950 miles of FERC-regulated interstate pipelines; and also
owns approximately 1,800 miles of high- and low-pressure gathering lines.
Visit EQT Midstream Partners, LP at www.eqtmidstreampartners.com.
About EQT GP Holdings:
EQT GP Holdings, LP is a limited partnership that owns the general
partner interest, all of the incentive distribution rights, and a
portion of the limited partner interests in EQT Midstream Partners, LP.
EQT Corporation owns a 90% limited partner interest in EQT GP Holdings,
LP.
Visit EQT GP Holdings, LP at www.eqtmidstreampartners.com.
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