Energy Transfer Co-founder Kelcy Warren to Step Down as CEO

Energy Transfer LP on Oct. 8 named long-time executives Mackie McCrea and Tom Long as co-CEOs, succeeding co-founder Kelcy Warren, who the company said will step down as CEO by year-end.

“Although I am stepping away from the day-to-day management of our business, I will continue to be intimately involved in the strategic growth of Energy Transfer,” Warren said in a statement on Oct. 8.

Warren, who has been a leader in the energy industry for more than 40 years, co-founded Dallas-based Energy Transfer in 1996 with approximately 200 miles of natural gas pipelines and 20 employees. Today, Energy Transfer is an international company with the largest and most diversified portfolio of energy assets in the U.S., according to the company’s release.

The leadership changes will take effect Jan. 1, 2021, at which time Warren will remain as executive chairman of Energy Transfer and chairman of the board of directors and continue to be actively involved in its strategic direction, the company release said.

As co-CEOs, McCrea and Long will work together in the manner of an “office of the CEO” and will jointly direct the business of the partnership. 

McCrea currently serves as president and chief commercial officer of Energy Transfer, while Long has served as the company’s CFO since February 2016.

“I could not be more proud to pass the reins to Mackie and Tom,” Warren continued. “Both have greatly contributed to our success, which I know they will continue in their new roles. I have the utmost respect for them personally and professionally, and I know that they, along with the rest of the senior management team, will continue to provide outstanding leadership for our more than 10,000 employees and value for our unitholders.”

McCrea first joined Energy Transfer in 1997 as senior vice president of business development. Since that time he has served in a number of leadership roles including group COO and chief commercial officer of Energy Transfer Operating LP.

Prior to assuming his current role as Energy Transfer CFO, Long served for five years as executive vice president and CFO of Regency Energy Partners LP, which was acquired by Energy Transfer in 2010. Before that, he held leadership positions with Matrix Service Co., DCP Midstream Partners LP, and others.

McCrea and Long both serve on the Energy Transfer board of directors. Long also serves on the board of Sunoco LP and is chairman of the board at USA Compression Partners LP.