More Board Shakeups Coming to Williams
Williams continues to face challenges with its board of directors--the people hired to oversee the company and the path it will chart into the future. Nearly half of the Williams board (6 of 14 board members) were part of a cabal that tried to force the company to sell itself to Energy Transfer Equity--a deal that went horribly wrong. Following the aborted merger, six of Williams’ board members tried to engineer a palace coup to depose current CEO Alan Armstrong. The coup failed and the board members quit in July (see Half of Williams Board, Including 2 Corporate Raiders, Quit). In August, Williams appointed three new members of the board, all of them well-qualified (see Williams Appoints 3 New Board Members, Confounds Corp Raider). Williams is continuing with what it calls its "Board refreshment plan." The latest: the company has just appointed two more new board members, effective immediately. Williams also announced that three current board members who were on the board prior to the big shake-up (three who didn't quit in July) will be gone by the next annual meeting on Nov. 23. Here's the latest in our ongoing soap opera, As the (Midstream) World Turns...
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