Company Update (NYSE:ETE): Energy Transfer Equity LP Announces Executive Appointments
Energy Transfer Equity LP (NYSE:ETE) and Energy Transfer Partners, L.P. (NYSE:ETP) announced that effective today, Marshall (Mackie) S. McCrea, formerly President and Chief Operating Officer of ETP, has been promoted to Group Chief Operating Officer and Chief Commercial Officer for ETE. Also effective today is the appointment of long-time ETE board member, Matthew S. Ramsey as President and Chief Operating Officer of ETP.
In his new role, Mr. McCrea, who has been instrumental in ETP’s success, is responsible for the oversight and development of all commercial and strategic opportunities for the entire family of midstream partnerships. Prior to his appointment as ETP president in 2008, McCrea held a number of senior management positions within the partnership including President of Energy Transfer Company, a subsidiary of ETP, and Senior Vice President of business development. McCrea began his career in the energy industry in 1983.
Mr. Ramsey, who has more than 35 years of experience in the energy industry, has served on the board of directors of ETE since 2012 and as Chairman of the board of Energy Transfer-owned Sunoco LP (NYSE: SUN) since 2014. He now leads ETP’s commercial activities along with the operations, engineering, construction, and compression business segments, all of which will benefit from his track record of building and managing successful companies and his extensive knowledge of the Energy Transfer family. Prior to joining ETP, Ramsey served as president of Houston-based RPM Exploration Ltd., a private oil and gas exploration partnership. (Original Source)
Shares of Energy Transfer Equity closed last Friday at $20.11 . ETE has a 1-year high of $35.44 and a 1-year low of $18.62. The stock’s 50-day moving average is $22.13 and its 200-day moving average is $28.47.
Energy Transfer Equity LP is a limited partnership company. The Company through its subsidiaries, owns and operates, natural gas gathering systems, natural gas intrastate pipeline systems and gas processing plants.