TARGA RESOURCES CORP. (NYSE:TRGP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

TARGA RESOURCES CORP. (NYSE:TRGP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
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 Matthew J. Meloy to the Board of Directors

On July 25, 2019, Targa Resources Corp. (the “Company”) announced that the Board of Directors of the Company (the “Board”) increased the size of the Board from ten members to eleven members and appointed Mr. Matthew J. Meloy, age 41, to the Board to fill the newly created position, each effective March 1, 2020. Mr. Meloy will serve as a Class III Director, with a term expiring at the Company’s 2022 annual meeting of stockholders. In addition to his service on the Company’s Board, Mr. Meloy will also serve on the board of directors of Targa Resources GP LLC, the general partner of Targa Resources Partners LP (the “General Partner”), a subsidiary of the Company, effective March 1, 2020.

There are no understandings or arrangements between Mr. Meloy and any other person to which Mr. Meloy was selected to serve as a director of the Company. There are no relationships between Mr. Meloy and the Company or any of its subsidiaries that would require disclosure to Item 404(a) of Regulation S-K.

Resignation of James W. Whalen as Executive Chairman of the Board of Directors; Appointment of Joe Bob Perkins as Executive Chairman of the Board of Directors

On July 25, 2019, the Company also announced that Mr. James W. Whalen, age 77, will resign from his position as Executive Chairman of the Board of the Company, effective March 1, 2020. Mr. Whalen will continue to serve as a member of the Board, which he joined in 2005.

The Company also announced that the Board appointed Mr. Joe Bob Perkins, a current member of the Board, age 59, to the position of Executive Chairman of the Board of the Company, effective March 1, 2020.

Resignation of Joe Bob Perkins as Chief Executive Officer; Appointment of Matthew J. Meloy as Chief Executive Officer

On July 25, 2019, the Company also announced that Mr. Perkins will resign from his position as Chief Executive Officer of the Company, effective March 1, 2020.

The Company also announced that the Board appointed Mr. Meloy to the position of Chief Executive Officer of the Company, effective March 1, 2020. Mr. Meloy will continue to serve as President of the Company until March 1, 2020.

There are no understandings or arrangements between Mr. Meloy and any other person to which Mr. Meloy was selected to serve as the Chief Executive Officer of the Company. Mr. Meloy has served as President of the Company and the General Partner since March 1, 2018. Mr. Meloy previously served as Executive Vice President and Chief Financial Officer of the Company and the General Partner between May 20, 2015 and February 28, 2018. He also served as Treasurer of the Company and the General Partner until December 2015. He also served as Senior Vice President, Chief Financial Officer and Treasurer of the Company between October 25, 2010 and May 20, 2015 and of the General Partner between December 15, 2010 and May 20, 2015. He also served as Vice President—Finance and Treasurer of the Company between April 2008 and October 2010, and as Director, Corporate Development of the Company between March 2006 and March 2008 and of the General Partner between March 2006 and March 2008. He has served as Vice President—Finance and Treasurer of the General Partner between April 2008 and December 15, 2010. There are no relationships between Mr. Meloy and the Company or any of its subsidiaries that would require disclosure to Item 404(a) of Regulation S-K, nor are there any relationships between Mr. Meloy and any other person that would require disclosure to Item 401(d) of Regulation S-K.

2

Story continues below


About TARGA RESOURCES CORP. (NYSE:TRGP)

Targa Resources Corp., through its general and limited partner interests in Targa Resources Partners LP (the Partnership), is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling NGLs, NGL products, and gathering, storing and terminaling crude oil and refined petroleum products. The Partnership operates in two divisions: Gathering and Processing, and Logistics and Marketing. The Gathering and Processing division consists of two segments: Field Gathering and Processing, and Coastal Gathering and Processing. The Logistics and Marketing division consists of two segments: Logistics Assets, and Marketing and Distribution.

An ad to help with our costs