CenterPoint Energy owns 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets.
CenterPoint Energy and OGE Energy Corporation each have 50% of the management interests in Enable GP. Enable GP is governed by a board of directors made up of two representatives designated by each of CenterPoint Energy and OGE Energy, along with Enable Midstream Partners' Chief Executive Officer and three independent Board members CenterPoint Energy and OGE Energy mutually agreed to appoint.
Bob and Al, on behalf of CenterPoint Energy, will bring to the Enable Board accomplished industry executives with a deep knowledge of and successful track record with master limited partnerships, said Dave Lesar, President and Chief Executive Officer of CenterPoint Energy. They will be outstanding additions to the Enable Board and will support our continued focus on driving value from CenterPoint Energy's investment in Enable.
Lesar added, Also, as Chairman of the Business Review and Evaluation Committee of CenterPoint Energy's Board, I believe Bob's and Al's appointments to the Enable Board are consistent with the Committee's goal to take actions that will strengthen our long-term performance. While the Committee is expected to conclude its work and make recommendations to the CenterPoint Energy Board by October 2020, this demonstrates we will not hesitate to capitalize on opportunities we believe will optimize value for our business investments.
Gwin will serve as Chairman of the Board of Enable and Walker will serve on its Compensation Committee.
HOUSTON
CenterPoint Energy, Inc. announced that former Anadarko Petroleum Chief Executive Officer Al Walker and President Robert G. Gwin have been named to the Board of Directors (Board) of the general partner of Enable Midstream Partners, LP, Enable GP, LLC, as representatives of CenterPoint Energy.
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