Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Increase in Size of the Board of Directors; Appointment of Paul W. Chung to the Board of Directors; Appointment of Paul W. Chung as Chairman of the Board of Directors
Targa GP Inc., the sole member of Targa Resources GP LLC (the “General Partner”), the general partner of Targa Resources Partners LP (the “Partnership”) increased the size of the Board of Directors (the “Board”) of the General Partner from twelve members to thirteen members and appointed Mr. Paul W. Chung, age 60, to the Board to fill the newly created position, effective January 1, 2021. The Board also appointed Mr. Chung to the position of Chairman of the Board of the General Partner. In addition to his service on the General Partner’s Board, Mr. Chung will also serve on the board of directors of Targa Resources Corp. (the “Company”), effective January 1, 2021.
On January 4, 2020, the Company announced that Mr. Joe Bob Perkins, age 60, resigned from his position as Executive Chairman of the Board of the General Partner, effective December 31, 2020. Mr. Perkins will continue to serve as a member of the Board, which he joined in 2012.
There are no understandings or arrangements between Mr. Chung and any other person pursuant to which Mr. Chung was selected to serve as a director of the General Partner. Mr. Chung has served as Executive Vice President and Senior Legal Advisor of the Company and the General Partner since March 1, 2020. Mr. Chung previously served as Executive Vice President, General Counsel and Secretary of the Company since its formation in October 2005 until March 2020 and of the General Partner between October 2006 and March 2020. He also served as an officer of an affiliate of the Company during 2004 and 2005. Mr. Chung served as Executive Vice President and General Counsel of Coral Energy Holding, L.P from 1999 to April 2004; Shell Trading North America Company, a subsidiary of Shell Oil Company, from 2001 to April 2004; and Coral Energy, LLC from 1999 to 2001. In these positions, he was responsible for all legal and regulatory affairs. He served as Vice President and Assistant General Counsel of Tejas from 1996 to 1999. Prior to 1996, Mr. Chung held a number of legal positions with different companies, including the law firm of Vinson & Elkins L.L.P. There are no relationships between Mr. Chung and the Partnership or any of its subsidiaries that would require disclosure pursuant to Item 404(a) of Regulation S-K.
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