Toby and Derek Rice have won control of EQT Corp.’s board of directors on July 10, roughly two years after the sale of the Rice brother’s own company, Rice Energy, to the shale gas giant.
Based on preliminary voting results of the company’s annual meeting, EQT shareholders elected all seven Rice-nominated directors as well as the five nominees supported by both EQT and the Rice team, the groups said in a joint release on July 10.
All 12 elected directors received more than 80% of the votes cast at the annual meeting.
As a result, Toby Rice was later named president and CEO of EQT on July 10. He succeeds Robert McNally, who has served as the company’s top executive since August 2018. The move will put an end to a nine-month proxy battle led by Rice against EQT.