Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 8, 2019, Westlake International Services Corporation, as sole member of Westlake Chemical Partners GP LLC (the “General Partner”), the general partner of Westlake Chemical Partners LP (the “Partnership”), appointed Randy G. Woelfel to serve as an independent member of the General Partner’s board of directors (the “Board”). Mr. Woelfel succeeds Mr. David Lumpkins who has informed the Board that he will resign effective November 14, 2019. Mr. Woelfel is expected to be appointed by the Board to its Audit and Conflicts committees.
Since March 2013, Mr. Woelfel has served as a director of Black & Veatch Holding Company. Mr. Woelfel was Chief Executive Officer and a director of NOVA Chemicals Corporation from November 2009 until May 2014. Prior to joining NOVA, Mr. Woelfel was Managing Director of Energy for the Houston Technology Center and President of Cereplast, Inc. He began his career with Shell Oil Company in 1977. While at Shell Oil and affiliated companies, he served in a variety of senior positions including President of Basell International, President of Basell North America and a board member of numerous Basell International petrochemical ventures. Since 2014, Mr. Woelfel has provided services as a business consultant through Woelfel Associates Inc., a strategy and board advice company. Mr. Woelfel received a Bachelor of Science degree in Chemical Engineering from Rice University and a Master’s degree in Management from the Massachusetts Institute of Technology.
In connection with Mr. Woelfel’s services on the Board, he will receive compensation in accordance with the plans and programs more fully described in the Partnership’s Annual Report on Form10-K, under the heading “Item 11 – Executive Compensation – Director Compensation.”
There are no arrangements or understandings between Mr. Woelfel and any other persons pursuant to which he was appointed as a director of the General Partner. There are no relationships between Mr. Woelfel and the Partnership or any related person of the Partnership that would require disclosure pursuant to Item 404(a) of RegulationS-K.
| Item 7.01. | Regulation FD Disclosure. |
On November 8, 2019, the Partnership issued a press release announcing that Mr. Woelfel had been appointed to the Board. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
The information in this Item 7.01, including the attached Exhibit 99.1, is being “furnished” pursuant to General Instruction B.2 of Form8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and is not incorporated by reference into any Partnership filing with the Securities and Exchange Commission, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
The following exhibit is furnished herewith:
