WES appoints Oscar Brown as President and CEO; Michael Ure steps down effective Oct 28

Western Midstream Operating, LP

Oscar Brown appointed President and CEO of WES's general partner effective Oct 28; he had been an independent director since 2019.
Michael Ure steps down as CEO and director; will serve as advisor through end of 2024; severance includes 2x salary plus bonus.
Brown receives $950k base salary, $300k 2024 target bonus, and $6M time-based units vesting over three years.
WES reaffirms 2024 Adj. EBITDA guidance $2.2B-$2.4B and FCF $1.05B-$1.25B, expects results toward high end.
Q3 2024 results due Nov 6, 2024; conference call Nov 7, 2024 at 1:00 p.m. Central.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Oscar K. Brown

President and Chief Executive Officer

Western Midstream Operating, LP

Effective: 2024-10-28
Filed: November 1, 2024, 7:59 PM ET

Oscar K. Brown, an independent director of Western Midstream Holdings, LLC, WES’s general partner (“WES GP”), which owns Western Midstream Operating GP, LLC (the “General Partner”), the general partner of Western Midstream Operating, LP (the “Partnership”), has been appointed President and Chief Executive Officer of WES GP, effective October 28, 2024.

Departed

Michael P. Ure

President and Chief Executive Officer

Western Midstream Operating, LP

Effective: 2024-10-28
Successor: Oscar K. Brown
Filed: November 1, 2024, 7:59 PM ET

The Board of Directors of WES GP (the “Board”) and Michael P. Ure agreed that he will step down from his position as President and Chief Executive Officer of the General Partner, WES GP and as a director of the Board, effective October 28, 2024 (the “Transition Date”).

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Oscar K. Brown was appointed as President and Chief Executive Officer at Western Midstream Operating, LP.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

Oscar K. Brown, an independent director of Western Midstream Holdings, LLC, WES’s general partner (“WES GP”), which owns Western Midstream Operating GP, LLC (the “General Partner”), the general partner of Western Midstream Operating, LP (the “Partnership”), has been appointed President and Chief Executive Officer of WES GP, effective October 28, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael P. Ure departed as President and Chief Executive Officer at Western Midstream Operating, LP.

Action: stepped down
Role: President and Chief Executive Officer

Exact text from the filing

The Board of Directors of WES GP (the “Board”) and Michael P. Ure agreed that he will step down from his position as President and Chief Executive Officer of the General Partner, WES GP and as a director of the Board, effective October 28, 2024 (the “Transition Date”).

View on SEC.gov

Source: SEC EDGAR

accession 0001414475-24-000018

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