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SMALL BUSINESS
El Paso Corporation Announces Realignment of Executive Committee
Market Wire
HOUSTON, TX -- (Marketwire) -- 10/19/09 -- El Paso Corporation (NYSE: EP) today announced
the following changes to the executive committee of the company:
-- D. Mark Leland, currently Executive Vice President and Chief Financial
Officer, will become Executive Vice President and President of the
Midstream Group. Mark will be responsible for a newly created midstream
business unit. He has 15 years of midstream experience and was the Chief
Operating Officer of GulfTerra Energy Partners, L.P., which was El Paso's
former midstream master limited partnership.
-- John R. Sult, currently Senior Vice President & Chief Accounting
Officer, will become Senior Vice President and Chief Financial Officer.
J.R. will remain the Chief Financial Officer of the general partner for El
Paso Pipeline Partners, L.P. He will also be a new member of the executive
committee.
-- Dane E. Whitehead, currently Senior Vice President & Chief Financial
Officer, El Paso Exploration & Production Company, will become Senior Vice
President Strategy and Enterprise Business Development. Dane will be
responsible for strategy and market analysis, acquisitions and
divestitures, planning, investor and media relations and risk management.
He will also be a new member of the executive committee.
-- Susan B. Ortenstone, currently Senior Vice President, Human Resources
and Administration, will become Senior Vice President and Chief
Administrative Officer. Sue will be responsible for all administrative
service functions, including human resources, information technology,
communications and community relations, and administrative services.
-- James C. Yardley will continue as Executive Vice President and
President of the Pipeline Group.
-- Brent J. Smolik will continue as Executive Vice President and
President of El Paso Exploration & Production Company.
-- James J. Cleary will continue as President of Western Pipelines and
report to Mr. Yardley.
-- Robert W. Baker will continue as Executive Vice-President and General
Counsel.
With the exception of Mr. Cleary, these executives will report to Doug
Foshee, Chairman, President and Chief Executive Officer of El Paso. Mr.
Sult will assume the role of Chief Financial Officer upon the filing of the
September 30, 2009 Form 10-Q. The other executives who are assuming new
positions will transition out of their current roles by year end.
"I want to welcome J.R. and Dane to the executive committee," said Doug
Foshee, chairman, president, and chief executive officer of El Paso
Corporation. "Both have been with El Paso for less than five years, but
they have already made tremendous contributions, and I know they will be
impactful members of our executive committee.
"I am excited to announce the formation of a new midstream business under
the direction of Mark Leland. The North American natural gas industry is
undergoing a period of rapid evolution, presenting new opportunities for
synergies among our existing Pipeline and E&P businesses and a midstream
unit. I am confident that Mark's leadership experience with our previous
midstream operations and as our CFO will enable us to capitalize on these
opportunities and create value for our shareholders. We intend to reenter
the midstream business at a measured pace," Foshee added.
El Paso Corporation provides natural gas and related energy products in a
safe, efficient, and dependable manner. El Paso owns North America's
largest interstate natural gas pipeline system and one of North America's
largest independent natural gas producers. For more information, visit
Contacts
Investor and Media Relations
Bruce Connery
Vice President
Office: (713) 420-5855
Media Relations
Richard Wheatley
Manager
Office: (713) 420-6828
Investor and Media Relations
Bruce Connery
Vice President
Office: (713) 420-5855
Media Relations
Richard Wheatley
Manager
Office: (713) 420-6828
MARKET WIRE
2009-10-19 16:20:53
COMMENTS ( 0 )
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