HESS CORPORATION (NYSE:HES) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
On December 7, 2016, at the recommendation of the Corporate Governance and Nominating Committee, the Board of Directors (the “Board”) of Hess Corporation (the “Company”) elected Marc S. Lipschultz to serve as a director of the Company, effective immediately.
Mr. Lipschultz is a co-founder and President of Owl Rock Capital Partners (“Owl Rock”) and co-Chief Investment Officer of Owl Rock Capital Advisors. Prior to founding Owl Rock, Mr. Lipschultz spent more than two decades at KKR & Co., L.P., where he served on the firm’s Management Committee and as the Global Head of Energy and Infrastructure.
The Board has determined that Mr. Lipschultz is “independent” in accordance with the rules and standards of the New York Stock Exchange. Mr. Lipschultz does not have a material interest in any transaction that is required to be disclosed under Item 404(a) of Regulation S-K. There is no arrangement or understanding between Mr. Lipschultz and any other person to which he was selected as a director.
Mr. Lipschultz’s compensation for service as a director will be consistent with the compensation paid to other non-employee directors of the Company as described in the Company’s 2016 proxy statement, filed with the Securities and Exchange Commission on March 24, 2016.
About HESS CORPORATION (NYSE:HES)
Hess Corporation is an exploration and production (E&P) company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. Its segments include E&P, which is engaged in the sale of crude oil, natural gas liquids and natural gas, and Bakken Midstream, which provides services, including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota. Its Bakken Midstream assets include Tioga gas plant, Tioga gas plant, Crude oil train units, Ramberg truck facility, Gathering pipelines and Gathering pipelines. It has production operations located in the United States, Denmark, Equatorial Guinea, the Joint Development Area of Malaysia/Thailand, Malaysia and Norway. HESS CORPORATION (NYSE:HES) Recent Trading Information
HESS CORPORATION (NYSE:HES) closed its last trading session up +1.09 at 62.76 with 4,400,237 shares trading hands.