Enterprise CEO to retire by year’s end; replacement named

Michael A. Creel, CEO of Enterprise Products Partners LP’s (NYSE: EPD) general partner, plans to retire as of Dec. 31. A.J. “Jim” Teague, Enterprise’s COO, has been elected to succeed Creel as CEO upon Creel’s retirement at the end of 2015.

Teague has served as a director of Enterprise’s general partner since 2008 and as COO since 2010. He joined Enterprise in 1999. He is a retiree of The Dow Chemical Co., following a 23-year career. Teague has 40 years of experience in the midstream and petrochemical industries.

The board of directors of Enterprise’s general partner has elected to expand the office of the chairman, effective April 1. Currently, the office of the chairman comprises Randa Duncan Williams (daughter of Enterprise co-founder Dan Duncan) serving as non-executive chairman, Creel serving as CEO, and Teague serving as COO. The board has elected to add the role of chief administrative officer to the office of the chairman.

W. Randall Fowler has been elected to the role of chief administrative officer effective as of April 1. Fowler has served as a director of Enterprise’s general partner since 2011 and as Enterprise’s executive vice president and CFO since 2007. He joined Enterprise in 1999, shortly after Enterprise’s initial public offering. Fowler, a certified public accountant (inactive), has 35 years of finance and accounting experience in various sectors of the energy industry.

Upon Creel’s retirement, the office of the chairman will comprise Williams as non-executive chairman, Teague as CEO, and Fowler as chief administrative officer.

Bryan F. Bulawa has been elected senior vice president and CFO, effective April 1. Bulawa has served as Enterprise’s senior vice president and treasurer since 2009. He joined Enterprise as vice president and treasurer in 2007. Prior to joining Enterprise, Bulawa spent 13 years in the corporate and investment banking energy division of Scotia Capital, engaged in client coverage, corporate finance, project finance advisory, and bank and institutional loan syndications.  

Christian M. “Chris” Nelly has been elected vice president and treasurer, effective April 1. Nelly has served Enterprise as senior director of finance since 2011. He joined Enterprise in 2008 as director of finance. Prior to joining Enterprise, he served in various roles of increasing responsibility in the financial services sector, including roles with Société Générale and Scotia Capital, associated with financing and merger and acquisition activities for clients in various sectors of the energy industry.  

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