Business Context and Reporting Period
This Form 8-K filing by Energy Transfer Equity, L.P. (the "Partnership") reports corporate governance changes effective June 1, 2018, and June 4, 2018. The filing concerns the Board of Directors of LE GP, LLC, the general partner of the Partnership.
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 personnel changes and does not contain financial performance data.
Material Changes
- Resignation: K. Rick Turner resigned from the Board of Directors of LE GP, LLC effective June 1, 2018. He previously served on the audit committee and as Chairman of the compensation committee.
- Appointment: Steven R. Anderson was appointed to the Board of Directors of LE GP on June 4, 2018.
- Committee Roles: Mr. Anderson will serve on the audit committee and as Chairman of the compensation committee.
- Reason for Departure: Mr. Turner's resignation was not due to any disagreement with the Partnership or LE GP regarding operations, practices, or policies.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, or management commentary regarding future financial performance. No risks or contingencies related to the business operations were disclosed in this specific report. Regarding the new director, the filing states there are no arrangements or understandings pursuant to which Mr. Anderson was appointed, and no transactions exceeding $120,000 involving Mr. Anderson have occurred since the beginning of the last fiscal year.
Investor Verification Checklist
- Verify the effective dates of the board changes (June 1 and June 4, 2018).
- Confirm the specific committee assignments for the new director, Steven R. Anderson.
- Review the Partnership's Annual Report on Form 10-K for the year ended December 31, 2017, to understand the compensation structure for non-employee directors.
- Confirm that no undisclosed material transactions exist involving the new director.