Barry E. Davis Remains President and CEO of Partnership and Chairman, President and CEO of Crosstex Energy, Inc.
Crosstex Energy, L.P. (NASDAQ:XTEX) (the Partnership) announced today
that the Board of Directors of Crosstex Energy GP, LLC, the general
partner of Crosstex Energy GP, L.P., the general partner of the
Partnership, has elected Rhys J. Best as Chairman and appointed Kyle D.
Vann to the Board’s audit committee. Barry E. Davis remains President
and Chief Executive Officer of Crosstex Energy, L.P. (the Partnership)
and Chairman, President and Chief Executive Officer of Crosstex Energy,
Inc. (NASDAQ: XTXI) (the Corporation). Mr. Best joined the Partnership’s
Board in 2003 and was named the Board’s lead director in 2008.
“Rhys is a tremendous resource to the Partnership Board and Crosstex’s
management team. He has extensive experience in the energy and banking
industries, and has led companies through challenging business cycles,”
said Barry E. Davis, Crosstex President and Chief Executive Officer. “I
look forward to working with Rhys in his expanded role as Chairman of
the Partnership’s Board.”
Mr. Best is the former Chairman, President and Chief Executive Officer
of Lone Star Technologies, Inc., acquired by United States Steel
Corporation in 2007. Prior to joining Lone Star, he held several
leadership positions during his 20-year banking career.
Vann appointed to audit committee
Mr. Vann, who joined the Board in 2006, will serve as the third
independent member of the audit committee of Crosstex Energy GP, LLC,
the general partner of Crosstex Energy GP, L.P., the general partner of
the Partnership, which had consisted of two independent members since
About the Crosstex Energy Companies
Crosstex Energy, L.P., a midstream natural gas company headquartered in
Dallas, operates approximately 5,700 miles of pipeline, 12 processing
plants, four fractionators, and approximately 195 natural gas
amine-treating plants and dew-point control plants. Crosstex currently
provides services for 4.0 billion cubic feet per day of natural gas, or
approximately eight percent of marketed U.S. daily production.
Crosstex Energy, Inc. owns the two percent general partner interest, a
34 percent limited partner interest, and the incentive distribution
rights of Crosstex Energy, L.P.
Additional information about the Crosstex companies can be found at www.crosstexenergy.com.
Source: Crosstex Energy
Jill McMillan, 214-721-9271
Public & Industry Affairs