PITTSBURGH--(BUSINESS WIRE)--EQT Corporation (NYSE: EQT), today, announced that Steven Schlotterbeck has officially assumed the role of Chief Executive Officer – taking over for David Porges who retired from the position, staying on as Executive Chairman of EQT's Board of Directors for a period of one year. A similar leadership transition occurred for EQT Midstream Partners, LP (NYSE: EQM) and EQT GP Holdings, LP (NYSE: EQGP), where Schlotterbeck also assumed the role of CEO for both companies.
"It is a great honor to succeed Dave as the CEO of EQT Corporation and I am humbled to be entrusted with the responsibility to lead this great organization forward," said Schlotterbeck. "We have outstanding upstream and midstream assets; a strong financial position; dedicated leadership from our Board; and the continued commitment of the most talented employees in the industry – all contributing to EQT's next phase of evolution, growth, and shareholder value creation."
"This 'changing of the guard' represents a logical and natural leadership succession that is part of EQT’s overall strategy and plan for growth and innovation. Steve has a strong operational focus and I am confident in his abilities to effectively lead our organization through its next transformative chapter," said Dave Porges, EQT's Executive Chairman.
EQT continues to be at the forefront of applying innovative technologies in the development of the Company's vast natural gas resources, which are primarily located in the heart of the Marcellus and Utica shale regions of the Appalachian Basin. With its stringent focus on costs, strong balance sheet, and uniquely integrated business structure – EQT's overall strategy of consolidation, innovation, pipeline infrastructure growth, and customer and market expansion will continue.
Along with the transition of CEO responsibilities, and to reinforce a commitment to EQT's strategic focus, Schlotterbeck recently announced his senior management team, the members of which are as follows:
- David Schlosser was appointed Senior Vice President, EQT Corporation; and President, Exploration & Production.
- Lisa Hyland was appointed Senior Vice President, EQT Corporation; and President, Midstream; and also Senior Vice President and Chief Operating Officer for the general partner of EQT Midstream Partners. With Lisa's pending retirement in March 2018, these positions are interim and an executive search firm has been hired for the selection process.
- Rob McNally remains Senior Vice President & Chief Financial Officer and will assume management responsibilities for the Business Development, Facilities, Information Technology, Innovation, and Procurement functions.
- Lew Gardner remains General Counsel & Vice President, External Affairs.
- Charlene Petrelli remains Vice President & Chief Human Resources Officer.
- Blue Jenkins was appointed to the newly created role of Chief Commercial Officer.
- Pat Kane remains Chief Investor Relations Officer and will assume management of EQT's Strategy & Competitive Analysis function.
Complete bios for EQT's senior management team can be found on the EQT website.
About EQT Corporation:
EQT Corporation is an integrated energy company with emphasis on Appalachian area natural gas production, gathering, and transmission. With more than 125 years of experience, EQT continues to be a leader in the use of advanced horizontal drilling technology – designed to minimize the potential impact of drilling-related activities and reduce the overall environmental footprint. Through safe and responsible operations, the Company is committed to meeting the country’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 also owns a 90% limited partner interest in EQT GP Holdings, LP. EQT GP Holdings, LP owns the general partner interest, all of the incentive distribution rights, and a portion of the limited partner interests in EQT Midstream Partners, LP.
Visit EQT Corporation at www.EQT.com
About EQT Midstream Partners:
EQT Midstream Partners, LP is a growth-oriented limited partnership formed by EQT Corporation to own, operate, acquire, and develop midstream assets in the Appalachian Basin. The Partnership provides midstream services to EQT Corporation and third-party companies through its strategically located transmission, storage, and gathering systems that service the Marcellus and Utica regions. The Partnership owns approximately 950 miles of FERC-regulated interstate pipelines; and also owns approximately 1,800 miles of high- and low-pressure gathering lines.
Visit EQT Midstream Partners, LP at www.eqtmidstreampartners.com.
About EQT GP Holdings:
EQT GP Holdings, LP is a limited partnership that owns the general partner interest, all of the incentive distribution rights, and a portion of the limited partner interests in EQT Midstream Partners, LP. EQT Corporation owns a 90% limited partner interest in EQT GP Holdings, LP.
Visit EQT GP Holdings, LP at www.eqtmidstreampartners.com.
