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Williams’ chairman, board members resign after termination of ETE deal
HOUSTON, July 1, 2016 (PCW) -– Several members of Williams’ board -– including its chairman Frank T. MacInnis -- resigned their positions on Friday after the Tulsa-based firm’s buyout by Energy Transfer was terminated on Wednesday.
MacInnis said he was stepping down for “personal reasons,” Williams president and chief executive Alan Armstrong said in a statement Friday.
Dr. Kathleen Cooper, a current director and Audit Committee member has been appointed Chairman of Williams’ board of directors.
Other board members that resigned Friday include Ralph Izzo, Eric W. Mandelblatt, Keith A. Meister, Steven W. Nance and Laura A. Sugg, all of whom favored the ETE deal.
Williams said late Wednesday it would seek monetary damages from ETE for breaching the merger agreement. -- Samantha Hartke