Tallgrass Energy LP laid out a succession plan on Jan. 14 for outgoing CFO, Gary J. Brauchle, who is set to resign next month.
Brauchle, who has worked for Tallgrass since its formation, informed the board of directors of the general partner of his intent to resign as CFO on Feb. 14. Concurrently, Gary D. Watkins, currently Tallgrass’ chief accounting officer, will assume the role of CFO.
Tallgrass, which agreed to a sweetened take-private offer from a group led by Blackstone Infrastructure Partners last month, said the resignation of Brauchle is not the result of any disagreement with the Leawood, Kan.-based company or its affiliates, according to a company filing.
“On behalf of Blackstone, the board of directors and the entire leadership team, I want to thank Gary for his tireless passion and commitment to Tallgrass since its inception in 2012,” Tallgrass CEO Bill Moler said in a statement.
According to Moler, Brauchle was instrumental in building the Tallgrass finance department and guiding the company’s “transformational growth.”
“We are grateful for his leadership and wish him the very best as he completes his family’s relocation to Austin, Texas,” Moler added.
At the request of the board, Brauchle intends to remain with Tallgrass in a non-executive capacity through 2020 to ensure leadership continuity and a seamless transition.
Watkins, 47, has served as chief accounting officer at Tallgrass since joining the company in 2014. Previously, he served as vice president, controller and principal accounting officer at DCP Midstream Partners LP and DCP Midstream LLC.
In a statement commenting on the appointment, Moler said Watkins had gained the respect and trust of the executive leadership team, his peers and his team since joining Tallgrass, adding that Watkins “brings impressive financial management skills and an in-depth understanding of the company to his new role.”
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