Westlake Chemical Partners LP - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Westlake Chemical Partners LP on October 6, 2016. The report details corporate governance changes involving the Board of Directors of Westlake Chemical Partners GP LLC, the general partner of the Partnership.
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 personnel changes and does not contain financial performance data.
Material Changes
- Director Departure: Gary K. Adams retired from the Board of Directors on October 6, 2016.
- Director Appointment: Angela Minas was appointed as an independent member of the Board on October 7, 2016.
- Committee Assignments: Ms. Minas is expected to be appointed to the Audit and Conflicts committees.
Management Commentary and Background
Ms. Minas brings significant experience in the master limited partnership sector, having previously served as Chief Financial Officer of DCP Midstream Partners, LP and Constellation Energy Partners LLC. She currently serves on the boards of CONE Midstream Partners LP and Ciner Resources LP. Her compensation will align with the Partnership's existing director compensation plans described in the Form 10-K. No special arrangements or undisclosed relationships exist regarding her appointment.
Key Facts for Investor Verification
- Confirm the effective date of Angela Minas' appointment to the Audit and Conflicts committees.
- Review the Partnership's Form 10-K for details on the director compensation plan applicable to Ms. Minas.
- Verify the press release issued on October 11, 2016 (Exhibit 99.1) for any additional public commentary on the leadership transition.