EnLink Midstream announced last week Barry E. Davis, the company’s executive chairman, who led EnLink as its CEO from its founding in 2014 to 2018, has reassumed the role of chief executive while continuing to serve as chairman.
Former CEO Michael J. Garberding left the Dallas-based company “to pursue other opportunities,” Kallanish Energy reports.
“I am very excited to return to lead EnLink during this defining time for our company and industry,” Davis said. “I am incredibly passionate about this company, the strength of our diversified asset portfolio, and our ability to win in this environment,” Davis said.
“I would like to express my gratitude to Mike who has been my close partner in growing the company for the past 11 years. He leaves behind a strong legacy, having helped build EnLink into the diversified company that it is today, and I wish him the best in his future pursuits.”
Prior to succeeding Davis as CEO in early 2018, Garberding served as EnLink’s chief financial officer beginning in 2011, and president and Cfo since 2016.
Garberding has more than 25 years of leadership experience in the energy industry and held several executive-level positions within EnLink and its predecessors since 2008.
Davis served as CEO of EnLink, and its predecessor company Crosstex Energy, which he founded in 1996, until January 2018 when he became executive chairman.
“Now is the right time for Barry to return as CEO to accelerate the company’s strategy and capitalize on compelling growth opportunities, during this transformative time for the industry,” said Will Brilliant, an EnLink board member and a partner at Global Infrastructure Partners (Gip).
Gip is a major investor in the EnLink Cos., paying Devon Energy $3.125 billion in mid-2018, for a 100% equity interest in EnLink Manager, a roughly 64% limited partner equity interest in EnLink Midstream LLC, and an approximate 23% limited partner equity interest in EnLink Midstream Partners.
EnLink also appointed Gip partner Thomas W. Horton to the EnLink board. Horton previously served as chairman and CEO of American Airlines.
Following Horton’s appointment, EnLink’s board consists of nine directors, including four Gip partners.
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