Business Context and Reporting Period
This Form 8-K Current Report was filed by Cheniere Energy Partners, L.P. on January 14, 2014. The filing addresses Item 5.02 regarding the departure of a senior officer and the election of a new director and officer effective as of the report date.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and personnel changes rather than financial performance.
Material Changes
- Departure: H. Davis Thames ceased to serve as Senior Vice President and Chief Financial Officer and as a director of Cheniere Energy Partners GP, LLC. He is currently on a personal leave of absence.
- Appointment: Michael J. Wortley was elected as the new Senior Vice President and Chief Financial Officer and a director of the Company.
- Committee Assignment: Mr. Wortley was appointed to the Executive Committee of the Board.
Management Commentary and Background
Mr. Wortley, age 37, brings extensive internal experience to the role. Prior to this appointment, he served as Vice President, Strategy and Risk of Cheniere Energy, Inc. since January 2013. His background includes roles in business development, strategic planning, and corporate development at Anadarko Petroleum Corporation and Union Pacific Resources Corporation. He holds a B.B.A. in Finance from Southern Methodist University. Additionally, Mr. Wortley will serve as Chief Financial Officer for the general partner of Sabine Pass LNG, L.P.
Investor Verification Checklist
- Confirm the effective date of H. Davis Thames' departure and the nature of his leave of absence.
- Verify Michael J. Wortley's new responsibilities across Cheniere Energy Partners, L.P., Cheniere Energy Partners GP, LLC, and Sabine Pass LNG, L.P.
- Review the Third Amended and Restated Limited Liability Company Agreement regarding the rights of Cheniere and its affiliates to appoint directors.