People | General | People-Resignation | Capital Markets | Private Equity Activity
President and CEO Resigns from Enable Midstream
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Enable Midstream Partners, LP has announced that Lynn Bourdon has submitted his resignation from the company and has stepped down from his positions as president and chief executive officer (CEO) of Enable GP.
The board of directors of Enable Midstream’s general partner, Enable GP, LLC, named Scott Prochazka as chairman of Enable GP's board and appointed board member Pete Delaney as interim president and CEO, effective immediately.
Prochazka, president and CEO of CenterPoint Energy said: "Lynn played a critical role in positioning the company for the IPO and in creating a solid platform for future growth. We appreciate his efforts and look forward to building on this past success and capturing Enable’s significant growth opportunities. The board of directors will be focused on finding an experienced leader who can continue with Enable’s stated strategy, including extending our position into new basins and expanding our services down the value chain to drive growth. Pete Delaney has a deep understanding of our business, our customers and has a proven track record in creating value for investors. The board believes Pete is well-suited to move Enable forward while the board conducts its search."
Delaney, 61, is currently chairman of the board of OGE Energy Corp. (OGE). His experience in the energy industry includes having served as CEO of OGE Energy since 2007 and as CEO of OGE Energy’s natural gas midstream business that ultimately was contributed to Enable Midstream. In connection with Delaney’s appointment as interim president and CEO of Enable GP, and as reported earlier today, he ceased serving as CEO of OGE Energy.
Delaney said: "Enable has great assets, a strong financial position, and great people led by a seasoned leadership team. I look forward to working with them to accelerate distribution growth and realize the value proposition we envisioned when we formed Enable."
According to Bourdon: "It has been rewarding to be a part of taking Enable public and setting its strategic direction. I will always have a part of Enable with me and can’t thank the employees enough for their hard work and dedication. I wish Enable continued success."