UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): July 15, 2024
Westlake Chemical Partners LP
(Exact name of registrant as specified in its charter)
| Delaware | 001-36567 | 32-0436529 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
2801 Post Oak Boulevard, Suite 600 Houston, Texas | 77056 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (713) 585-2900
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading | Name of each exchange on which registered | ||
| Common units representing limited partnership interests | WLKP | The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On July 15, 2024, Westlake Chemical Partners LP (the “Partnership”) announced the following leadership transitions, effective July 15, 2024 (the “Effective Date”):
| • | James Chao, formerly the Chairman of the Board of Directors (the “Board”) of Westlake Chemical Partners GP LLC, the general partner of the Partnership (the “General Partner”), transitioned to the position of Senior Chairman of the Board of the General Partner; |
| • | Albert Chao, formerly the President, Chief Executive Officer and Director of the General Partner, transitioned to the position of Executive Chairman of the Board of the General Partner; and |
| • | Jean-Marc Gilson was appointed as the President, Chief Executive Officer and Director of the General Partner. |
In connection with his appointment as President and Chief Executive Officer of the General Partner, Mr. Gilson was also appointed as President and Chief Executive Officer of Westlake Corporation (“Westlake”), the indirect parent company of the General Partner.
Prior to joining the General Partner, Mr. Gilson (age 60) served as President, Chief Executive Officer and Representative Director of Mitsubishi Chemical Group Corporation (formerly known as Mitsubishi Chemical Holdings Corporation), an international producer of specialty chemicals and industrial products, from April 2021 until April 2024. From September 2014 until December 2020, Mr. Gilson served as Chief Executive Officer of Roquette Frères, a family-owned global leader in plant-based ingredients and a leading provider of pharmaceutical excipients. Before that, Mr. Gilson served as Vice-Chairman and Chief Operating Officer of NuSil Technology LLC, a global manufacturer of medical- and space-grade silicone technology. Earlier in his career, Mr. Gilson held various leadership roles at Dow Corning Corporation, including Executive Vice President, Specialty Chemicals Business, before becoming Chief Executive Officer of Avantor Performance Materials, Inc. Mr. Gilson holds a Master of Science in Chemical Engineering from the University of Liege in Belgium and a Master of Business Administration from the International Institute for Management Development in Switzerland.
There are no family relationships between Mr. Gilson and any director or executive officer of the General Partner. Mr. Gilson does not have any interest in any transactions with the Partnership requiring disclosure under Item 404(a) of Regulation S-K, and there are no arrangements or understandings between Mr. Gilson and any other person pursuant to which he was appointed as an officer of the General Partner.
| Item 7.01. | Regulation FD Disclosure. |
On July 15, 2024, the Partnership issued a press release announcing the leadership transitions. A copy of that press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
The following exhibits are furnished herewith:
| 99.1 | Press release issued July 15, 2024. | |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| WESTLAKE CHEMICAL PARTNERS LP | ||||||
| By: | Westlake Chemical Partners GP LLC, its general partner | |||||
| Date: July 15, 2024 | By: | /s/ L. Benjamin Ederington | ||||
L. Benjamin Ederington Executive Vice President, Performance and Essential Materials, General Counsel and Chief Administrative Officer | ||||||
