James E. Rohr Named Chairman of the Board
EQT Corporation (NYSE:EQT) today announced that it has appointed four
new members to its board of directors (Board), effective upon completion
of the separation of the Company’s upstream and midstream businesses,
which is expected to occur at 11:59 p.m. Eastern Time on November 12,
2018. Additionally, Robert J. McNally, currently EQT’s chief financial
officer, who will become president and chief executive officer of EQT
post-separation, will join the board of directors for EQT; and James E.
Rohr will become chairmain of the EQT board of directors, taking over
for David L. Porges.
Biographical information on the four newly elected board members is as
follows:
Anita Powers
Ms. Powers brings more than 36 years of experience in the oil and gas
industry to EQT’s Board. In 2017, Powers retired from Occidental
Petroleum Corporation as vice president, and as executive vice president
of exploration and geosciences for Occidental Oil and Gas Corporation,
roles in which she served since 2009. Previously, Powers served as vice
president of worldwide exploration (2006-2009). Prior to 2006, she
served as director of worldwide geoscience; vice president of
exploration of Colombia; and chief geologist for worldwide exploration.
Powers joined Occidental in 1979 and held various roles of increasing
responsibility, working both onshore and offshore in the United States
and internationally. Since 2017, Powers has served as a director of
California Resources Corporation and as a member of its Health, Safety
and Environmental Committee.
Jerry MacCleary
Mr. MacCleary currently serves as chief executive officer and chairman
of Covestro LLC, formerly Bayer Material Science. Previously, MacCleary
served as president of Covestro’s North American division from 2012 to
2017; senior vice president of the Polyurethane Business Group, North
America (2004 -2017); senior vice president, performance systems
marketing (2003-2004); and from 1999, he directed North American product
management as vice president of the plastics division. MacCleary joined
Bayer in 1979 as an accountant before moving into a technical sales role
in the plastics division, where he continued to accelerate his career
through various roles in marketing and sales, general management, and
strategic leadership. MacCleary serves as chairman of the American
Chemistry Council’s Executive Committee, as well as a director on
several boards, including the National Association of Manufacturers and
on the Executive Committee for the Society of Chemical Industry.
Christina Cassotis
Ms. Cassotis has served as chief executive officer of Allegheny County
Airport Authority since 2015. Under her leadership, Air Transport World
magazine named Pittsburgh International as its 2017 Airport of the Year.
Previously she served as managing officer, Airports, of SH&E from 2003
to 2014. Cassotis is a frequent speaker at commercial aviation industry
events worldwide and has advised airports, governments, and
institutional infrastructure investors around the globe on economic and
competitive strategy, business planning, and aviation system planning.
Cassotis has served as a director of S&T Bancorp, Inc. since 2017, is a
member of the board for Visit Pittsburgh, and member of the
International Aviation Womens Association.
Bill Lambert
Lambert has served as chairman of the board, president and chief
executive officer of MSA Safety, Inc. since 2015. He was president and
chief executive officer at the company since 2008. Lambert began his
career at MSA Safety, Inc. as an engineer in 1981 and rose through the
ranks assuming positions with increasing responsibility within R&D,
product line management, marketing, and executive management. As CEO,
Lambert oversaw MSA’s global business managed through the company’s two
primary business segments, MSA Americas and MSA International. In this
capacity, Lambert was responsible for all MSA business initiatives,
strategy development and operations throughout North America, Western
and Eastern Europe, Latin America, and Asia Pacific. One of MSA’s
largest markets is the global oil and gas industry. He has served as a
director of MSA since 2007, and has served as a director of Kennametal,
Inc. as a member of the Audit and Nominating and Corporate Governance
Committees since 2016.
In connection with the upcoming separation, current EQT Board members
Vicky A. Bailey, Kenneth M. Burke, Margaret K. Dorman, Thomas F. Karam,
David L. Porges, Norman J. Szydlowski, and Robert F. Vaught will resign
from EQT’s Board of directors of EQT and join the board of Equitrans
Midstream Corporation, the company that will hold EQT’s midstream
business following the separation.
About EQT Corporation
EQT Corporation is an integrated energy company with emphasis on
Appalachian area natural gas production, gathering, and transmission.
With more than 130 years of experience and a long-standing history of
good corporate citizenship, EQT is the largest producer of natural gas
in the United States. As a leader in the use of advanced horizontal
drilling technology, EQT is committed to minimizing the impact of
drilling-related activities and reducing its overall environmental
footprint. Through safe and responsible operations, EQT is helping to
meet our nation’s growing demand for clean-burning energy, while
continuing to provide a rewarding workplace and enrich the communities
where its employees live and work. EQT owns the general partner interest
and a 91% limited partner interest in EQGP Holdings, LP. EQGP Holdings,
LP owns the general partner interest, all of the incentive distribution
rights, and a portion of the limited partner interest in EQM Midstream
Partners, LP.
Visit EQT Corporation at www.eqt.com;
and to learn more about EQT’s sustainability efforts, please visit https://csr.eqt.com.
Cautionary Statements
Disclosures in this news release contain certain forward-looking
statements within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended, and Section 27A of the Securities Act of 1933,
as amended. Statements that do not relate strictly to historical or
current facts are forward-looking. Any such forward-looking statements
are made based on information currently known and are subject to various
risks and uncertainties, including those contained in EQT’s filings with
the Securities and Exchange Commission, including its annual report on
Form 10-K for the year ended December 31, 2017 and its quarterly reports
on Form 10-Q for the quarters ended March 31, 2018 and June 30, 2018 and
the Registration Statement on Form 10 filed by ETRN. Without limiting
the generality of the foregoing, forward-looking statements contained in
this news release specifically include the expectations of plans,
strategies, objectives and growth and anticipated financial and
operational performance of ETRN, EQT and their subsidiaries, including
whether the separation of EQT’s upstream and midstream businesses is
completed, as expected or at all, and the timing of such separation;
whether the conditions to the separation and the other transactions
involving the midstream business can be satisfied; whether the
operational, financial and strategic benefits of the separation can be
achieved; and whether the costs and expenses of the separation can be
controlled within expectations. These statements involve risks and
uncertainties that could cause actual results to differ materially from
projected results. Accordingly, investors should not place undue
reliance on forward-looking statements as a prediction of actual
results. EQT has based these forward-looking statements on current
expectations and assumptions about future events. While EQT considers
these expectations and assumptions to be reasonable, they are inherently
subject to significant business, economic, competitive, regulatory and
other risks and uncertainties, many of which are difficult to predict
and beyond EQT’s control.
Any forward-looking statement speaks only as of the date on which such
statement is made and EQT does not intend to correct or update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
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