Kinder Morgan Inc. announced on Dec. 14 that long-standing board member Fayez Sarofim will retire from its board of directors by the end of the year.
Fayez is a billionaire Houston investment manager and philanthropist who was one of the original shareholders of Kinder Morgan. He has served on the Houston-based pipeline company’s board of directors since 1999.
“Fayez has been a long-standing member of the board, and we appreciate his valuable guidance and advice during his 21 years of service,” said Kinder Morgan Executive Chairman Rich Kinder in a statement. “He has always provided thoughtful and wise suggestions for the betterment of the company. We wish him all the best in his retirement.”
Founded in 1997, Kinder Morgan has grown into one of the largest energy infrastructure companies in North America. The company currently owns an interest in or operate approximately 83,000 miles of pipelines and 147 terminals, according to a release on Dec. 14.
In a statement commenting on his retirement, which takes effect Dec. 31, Sarofim said: “I have enjoyed working with Rich, the board and the management team during my time serving on the board of directors. KMI has grown substantially during that period, and I am confident it will continue to be successful in the future.”
Sarofim founded his investment firm Fayez Sarofim & Co., in 1958 in Houston where he has been an active philanthropist in the community.
He is a significant contributor to the Museum of Fine Arts, Houston (MFAH), with the MFAH’s extensive collections and exhibitions presented primarily at three main gallery buildings on the Susan and Fayez S. Sarofim Campus. Additionally, he provides support to the Houston Ballet, Memorial Sloan-Kettering Cancer Center, Texas Children’s Hospital, University of Texas Health Science Center and Houston Grand Opera, among other organizations.
Recommended Reading
STRYDE Awarded Seismic Supply Contracts in Mexico
2024-09-03 - STRYDE was awarded two seismic node supply contracts in Mexico, the company’s first projects in the country.
SLB Collaborates with Aker BP on AI-driven Digital Platform
2024-07-24 - SLB and Aker BP’s partnership will build a digital platform that will benefit Aker BP’s subsurface workflows to lower costs, shorten planning cycles and increase crude production.
PPG’s Insulation Coating Offers Oil, Gas Asset Protection in High Heat
2024-08-21 - The PPG Pitt-Therm 909 spray-on insutlation coating can withstand high temperatures to promote safety and corrosion resistance.
Salunda, Intellilift Enter Pact to Optimize Automation in Well Construction
2024-08-21 - The agreement was signed following a successful pilot trial integrating Intellilift’s digital technologies with Salunda’s patented camera and wearable red zone monitoring solutions on a drilling rig.
Chevron Launches New Hydraulic Fluid for Marine, Construction Use
2024-09-10 - Chevron said its Clarity Bio EliteSyn AW hydraulic fluid meets or exceeds the biodegradation, toxicity and bioaccumulation limits set by government regulations.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.