Williams Chairman Frank MacInnis Steps Down; Announces Addl Board Resignations

(RTTNews) - Williams Companies Inc. (WMB) said that Frank MacInnis is stepping down as Chairman of the Board of Directors due to personal reasons, effective immediately. Kathleen Cooper, a current director and Audit Committee member has been appointed Chairman of the Board of Directors.

The Board of Directors has thoroughly evaluated the Company's leadership structure and determined that Alan Armstrong is the right Chief Executive Officer for Williams as the Company works to continue enhancing stockholder value.

The company also announced that Ralph Izzo, Frank MacInnis, Eric Mandelblatt, Keith Meister, Steven Nance and Laura Sugg disagreed with this strategic direction of the Williams Board of Directors. Ralph Izzo, Eric Mandelblatt, Keith Meister, Steven Nance and Laura Sugg decided, in the best interests of stockholders, to resign from the Williams Board of Directors, effective immediately.

Williams stated that it will evaluate the appropriate size and composition of the Board going forward in accordance with its standard Nominating and Governance procedures.

On 29th June 2016, Energy Transfer Equity L.P. said that it terminated its merger agreement with The Williams Companies effective June 29, 2016.