UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On April 25, 2023, Crestwood Equity Partners LP (“Crestwood” or the “Company”) issued a press release announcing Steven Dougherty, Executive Vice President and Chief Accounting Officer, will be leaving the Company to pursue other opportunities. Mr. Dougherty will continue to serve in his current role through the end of the second quarter 2023 to ensure an orderly transition of his responsibilities.
This termination is a mutual separation without cause, and Mr. Dougherty will receive severance compensation pursuant to the terms of his existing employment agreement, subject to Mr. Dougherty signing a customary release.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits.
| Exhibit |
Description | |
| 99.1 | Press Release dated April 25, 2023 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CRESTWOOD EQITY PARTNERS LP | ||||||
| By: | Crestwood Equity GP LLC, its General Partner, | |||||
| Date: April 25, 2023 | By: | /s/ Michael K. Post | ||||
| Michael K. Post | ||||||
| Vice President, Associate General Counsel & Corporate Secretary | ||||||
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Exhibit 99.1
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News Release CRESTWOOD EQUITY PARTNERS LP 811 Main Street, Suite 3400 Houston, TX 77002 www.crestwoodlp.com |
Crestwood Announces Executive Team Changes
HOUSTON, TEXAS, April 25, 2023 – Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood” or the “Company”) announced today that Steven Dougherty, Executive Vice President and Chief Accounting Officer, will be leaving the Company to pursue other opportunities. Mr. Dougherty will continue to serve in his current role through the end of the second quarter 2023 to ensure an orderly transition of his responsibilities.
“I would like to personally thank Steven, or “Doc” as we fondly refer to him within the Company, for his many years of service and leadership at Crestwood. Doc has played a key role in building Crestwood from its infancy to what it is today, and his contributions have been fundamental to the Company’s success,” commented Robert G. Phillips, Founder, Chairman, and Chief Executive Officer of Crestwood. “Doc has been a core member of the Crestwood management team since 2012 and has developed a tremendous team of professionals within our accounting, financial reporting, tax, internal audit, IT, and risk management functions. We are excited for the opportunity for many of these highly talented leaders to advance their careers and are confident they are well prepared to ensure a seamless transition. While we are sad to see Doc move on from Crestwood, we wish him all the best in his future endeavors and the next chapter in his life.”
Steven Dougherty commented, “I am so proud of what we have built at Crestwood over the past 11 years. It has been an incredible privilege to work with an extraordinary group of executives and an extremely talented group of accounting, IT, audit, tax and risk management professionals that will continue to advance Crestwood as a leader in the midstream industry. I am very excited about Crestwood’s transformation over the past several years and look forward to seeing what the future holds for the organization.”
Mr. Dougherty will continue to serve as Executive Vice President and Chief Accounting Officer through the end of the second quarter 2023. Upon his departure, Jeff Cathey, Senior Vice President and Controller, will oversee the accounting department. Deana Werkowitch, Senior Vice President of Audit, Technology and Implementation Services will oversee the internal audit and technology functions. Donna Schmidt, Vice President of Tax will oversee the tax department. Casey Rosengarten, Vice President of Risk Management will oversee the risk management function.
About Crestwood Equity Partners LP
Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water. To learn more about Crestwood Equity Partners LP, visit www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.com.
Source: Crestwood Equity Partners LP
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NEWS RELEASE
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Crestwood Equity Partners LP
| Investor Contact
Andrew Thorington, 713-380-3028 andrew.thorington@crestwoodlp.com Vice President, Finance & Investor Relations |
Sustainability and Media Contact
Joanne Howard, 832-519-2211 joanne.howard@crestwoodlp.com Senior Vice President, Sustainability and Corporate Communications |
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