American Midstream Partners LP has announced that Steve Bergstrom, Executive Chairman, President, and CEO, retired from his position effective 10 December 2015. Mr. Bergstrom will continue to serve as a Director on the Board of Directors. Lynn L. Bourdon III has been appointed Chairman, President and Chief Executive Officer.
Mr. Bourdon, 53, most recently served as President and Chief Executive Officer of Enable Midstream Partners, LP.
“When we acquired the general partner of American Midstream in April 2013, we asked Steve to lead the Partnership and establish a strong midstream platform to drive long-term growth,” commented Dan Revers, Managing Partner of Capital ArcLight Capital Partners LLC, which controls the general partner of the Partnership. “Steve successfully led the Partnership through a significant growth phase and is now stepping back from the day-to-day leadership of the Partnership while remaining actively engaged on the Board of Directors, with particular focus on continuing to build the Partnership through his significant knowledge of the industry and relationships with key industry leaders.”
“We are excited to welcome Lynn to American Midstream,” continued Mr. Revers. “Lynn has significant midstream and energy industry experience, coupled with broad leadership capacity, and we are confident he is the right person to lead American Midstream as we continue to execute our growth strategy.”
“It has been a privilege to lead American Midstream since early 2013,” said Mr. Bergstrom. “I am very pleased with what our team has achieved during my tenure, even given the recent downturn in the industry. More importantly, I believe American Midstream has a bright future, particularly with the ongoing support of ArcLight. I am pleased that we found a high-caliber leader like Lynn, who will bring new excitement, energy, ideas and perspectives to the Partnership. I want to thank the great people working at American Midstream, who are the cornerstone of the Partnership’s success, and look forward to continuing to support American Midstream on the Board of Directors.”
“I am excited to join American Midstream and I am confident we can build on the significant achievements that resulted from Steve’s leadership and the strong sponsorship of ArcLight,” commented Mr. Bourdon. “American Midstream has significant geographic diversity, with midstream assets in the Permian, East Texas, Eagle Ford, Bakken, and the Gulf, and the recent drop down of a minority interest in Delta House further diversifies the Partnership and enhances fee-based cash flow. With a strong asset platform, coupled with the continued support of ArcLight, we are well positioned to navigate the near-term industry challenges while continuing to position the Partnership for long-term, sustainable growth.”
Edited from press release by Angharad Lock
Read the article online at: https://www.worldpipelines.com/business-news/14122015/american-midstream-ceo-retires-1958/