Williams Announces Stephen W. Bergstrom Elected Chairman of Its Board of Directors
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Bergstrom: “Board focused on positioning Williams to deliver
long-term, sustainable shareholder value and growth.”
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Current Chairman, Dr. Kathleen B. Cooper, to Chair Nominating and
Governance Committee
The Williams Companies, Inc. (NYSE: WMB) (“Williams” or the “Company”)
today announced that Stephen W. Bergstrom has been elected Chairman of
the Board, effective immediately. Mr. Bergstrom will replace Dr.
Kathleen B. Cooper who will become Chair of the Board’s Nominating and
Governance Committee. Dr. Cooper has served on the Williams Board since
2006.
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Williams Announces Stephen W. Bergstrom Elected Chairman of Its Board of Directors (Photo: Business Wire)
Mr. Bergstrom joined the Williams Board in August of 2016. He has strong
operational skills and a strategic understanding of the energy industry.
During his tenure as president and chief executive officer of American
Midstream Partners, Mr. Bergstrom led the company through a period of
substantial growth while increasing its geographic and operational
diversity and enhancing fee-based cash flow.
“The Williams Board and our entire organization are focused on execution
of the company’s natural gas-focused business strategy and positioning
Williams to deliver long-term, sustainable shareholder value and
growth,” said Mr. Bergstrom. “I’m especially honored to lead a
world-class board of directors committed to independence and strong
corporate governance. This commitment will continue under Kathleen’s
leadership of the Nominating and Governance Committee.”
Williams President and CEO, Alan Armstrong added, “I want to thank
Kathleen for her superb leadership and guidance during a critical time
in the company’s history. We are fortunate to have such a deeply
experienced board of directors. The entire Williams team looks forward
to further executing on the Board’s vision of focusing on our core
natural gas business and delivering predictable returns to our
shareholders. I also appreciate that the Board supports our commitment
to operational excellence and continually enhancing the safety culture
at Williams.”
The Williams Board of Directors consists of 11 members, ten of whom are
independent.
Stephen Bergstrom
Mr. Bergstrom is a director on the board of American Midstream Partners.
He served as president and chief executive officer of the general
partner of American Midstream and as executive chairman of the board of
directors of the general partner from May 2013 to December 2015. Mr.
Bergstrom acted as an exclusive consultant to ArcLight from October 2003
to December 2015, assisting ArcLight in connection with its energy
investments. Prior to his consultancy with ArcLight, Mr. Bergstrom
worked from 1986 to 2002 for Natural Gas Clearinghouse, which became
Dynegy Inc. Mr. Bergstrom acted in various capacities at Dynegy,
ultimately serving as president and chief operating officer. Mr.
Bergstrom earned a Bachelor of Science in Industrial Administration from
Iowa State University.
Dr. Kathleen Cooper
Currently President of Cooper Strategies International LLC, Dr. Cooper
from 2001 to 2005 served as under secretary for Economic Affairs of the
U.S. Department of Commerce. Prior to that, her strategic guidance as
Chief Economist of Exxon Mobil Corporation helped drive corporate
planning for this top-tier global energy company. She also serves as a
director of Deutsche Bank Trust Corporation and Deutsche Bank Trust
Company of the Americas, subsidiaries of Deutsche Bank AG, and was a
founding director of Texas Security Bank from 2008 to 2010. Earlier in
her career, she was executive vice president and chief economist of
Security Pacific National Bank and chief economist of the United Banks
of Colorado. Currently a senior fellow of the Tower Center for Political
Studies at Southern Methodist University, Dr. Cooper’s academic
experience includes two years as dean of the College of Business
Administration at the University of North Texas. She holds a Ph.D.
degree in economics from the University of Colorado.
About Williams
Williams (NYSE: WMB) is a premier provider of large-scale infrastructure
connecting U.S. natural gas and natural gas products to growing demand
for cleaner fuel and feedstocks. Headquartered in Tulsa, Okla., Williams
owns approximately 74 percent of Williams Partners L.P. (NYSE: WPZ).
Williams Partners is an industry-leading, large-cap master limited
partnership with operations across the natural gas value chain from
gathering, processing and interstate transportation of natural gas and
natural gas liquids to petchem production of ethylene, propylene and
other olefins. With major positions in top U.S. supply basins, Williams
Partners owns and operates more than 33,000 miles of pipelines system
wide – including the nation’s largest volume and fastest growing
pipeline – providing natural gas for clean-power generation, heating and
industrial use. Williams Partners’ operations touch approximately 30
percent of U.S. natural gas. www.williams.com
Portions of this document may constitute “forward-looking statements”
as defined by federal law. Although the company believes any such
statements are based on reasonable assumptions, there is no assurance
that actual outcomes will not be materially different. Any such
statements are made in reliance on the “safe harbor” protections
provided under the Private Securities Reform Act of 1995. Additional
information about issues that could lead to material changes in
performance is contained in the company’s annual and quarterly reports
filed with the Securities and Exchange Commission.
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