Board of Directors
David L. Porges
Chairman of the Board
Mr. Porges served as a director of EQT Corporation from May 2002 until the separation of EQT and Equitrans Midstream in November 2018. In November 2018, Mr. Porges was appointed Chairman of the Board of Equitrans Midstream. Mr. Porges served as Chairman and Interim President and Chief Executive Officer of EQT Corporation from March 2018 to November 2018; Executive Chairman of EQT Corporation between March 1, 2017 through February 28, 2018; Chairman and Chief Executive Officer, EQT Corporation, between December 2015 through February 2017; and Chairman, President and Chief Executive Officer, EQT Corporation, between May 2011 through November 2015. Mr. Porges also served as the Chairman of EQGP Services, LLC, the general partner of EQGP Holdings, LP (the EQGP General Partner), from January 2015 through October 2018, and EQM Midstream Services, LLC, the general partner of EQM Midstream Partners, LP (the EQM General Partner), from January 2012 through October 2018. Mr. Porges served as a Director of the EQGP General Partner through Equitrans Midstream’s acquisition of 100% of the limited partner interests in EQGP Holdings, LP in January 2019 and served as a Director of the EQM General Partner prior to stepping down on January 10, 2019. Mr. Porges served as Chairman of Rice Midstream Management LLC, the general partner of Rice Midstream Partners LP (the RMP General Partner) from November 2017 to July 2018. Mr. Porges was the President and Chief Executive Officer of the EQGP General Partner and the EQM General Partner from each company’s inception through February 2017.
Mr. Porges brings extensive business, leadership, management and financial experience, and tremendous knowledge of Equitrans Midstream’s operations, culture and industry, to the Board. Mr. Porges served in a number of senior management positions with EQT since joining EQT as Senior Vice President and Chief Financial Officer in 1998. Prior to joining EQT, Mr. Porges held various senior positions within the investment banking industry and also held several managerial positions with Exxon Corporation (now Exxon Mobil Corporation, an international oil and gas company). Mr. Porges served on the board of directors of Westport Resources Corp. (an oil and natural gas production company) (now part of Anadarko Petroleum Corporation), from April 2000 through 2004. Mr. Porges’ strong financial and industry experience, along with his understanding of Equitrans Midstream’s business operations and culture, will enable him to provide unique and valuable perspectives on most issues facing the company.
Thomas F. Karam
Thomas F. “Tom” Karam was appointed President and Chief Executive Officer of Equitrans Midstream Corporation in September 2018. He currently serves as a member of Equitrans Midstream’s Health, Safety, Security and Environmental Committee. Prior to Equitrans Midstream, he was named Senior Vice President, EQT Corporation and President, Midstream in August 2018; serving in those capacities until the separation of EQT and Equitrans Midstream in November 2018. In February 2019, the EQGP General Partner became a wholly-owned subsidiary of EQM. He was also appointed as a Director and as President and Chief Executive Officer of the EQM General Partner and the EQGP General Partner in August 2018 and became Chairman in October 2018. Tom served on EQT’s Board of Directors from November 2017 until the separation of EQT and Equitrans Midstream in November 2018.
Tom has been a senior executive and entrepreneur in the midstream energy sector for more than 25 years. He is the founder and served as Chairman of Karbon Partners, LLC, which invests in, owns, constructs, and operates midstream energy assets, from April 2017 to August 2018. Tom previously served as the founder, Chairman and Chief Executive Officer of PennTex Midstream Partners, LLC, a publicly traded master limited partnership with operations in North Louisiana and the Permian Basin from 2014 until its sale to Energy Transfer Partners in 2016. Preceding PennTex, he was the founder, Chairman and Chief Executive Officer of Laser Midstream Partners, LLC, one of the first independent natural gas gathering systems in the northeast Marcellus shale, from 2010 until 2012 when it was acquired by Williams Partners. Prior to Laser, Tom was the President, Chief Operating Officer and Director of Southern Union Company, where he led its successful transformation from a large LDC company to one of the largest pipeline companies in the United States at the time.
Prior to Southern Union Company, Tom was the President and Chief Executive Officer of Pennsylvania Enterprises and PG Energy, a natural gas utility in central and northeastern Pennsylvania until its acquisition by Southern Union Company. Tom began his professional career in investment banking with Legg Mason Inc. and Thomson McKinnon.
Robert F. Vagt
Lead Independent Director
Mr. Vagt served as a director of EQT Corporation from November 2017 until the separation of EQT and Equitrans Midstream in November 2018. Mr. Vagt currently serves as the lead independent director of Equitrans Midstream and as a member of Equitrans Midstream’s Audit Committee and the Management Development, Compensation Committee, and Corporate Governance Committee. Mr. Vagt served as President of Davidson College (an independent liberal arts college) from July 1999 through August 2007. Mr. Vagt served as President, The Heinz Endowments (a private philanthropic foundation) from January 2008 through January 2014. Mr. Vagt was a director of Rice Energy Inc., serving as that board’s independent chair, chair of its Health, Safety and Environmental Committee, and a member of the Audit and Nominating and Governance Committees, from January 2014 through November 2017. Mr. Vagt served as a director of the RMP General Partner from January 2014 to July 2018. Mr. Vagt has served as a director of Kinder Morgan, Inc. (a publicly-traded energy infrastructure company) since May 2012, where he serves as a member of the Audit Committee and chair of its Environmental, Health and Safety Committee.
Prior to his service to The Heinz Endowments and Davidson College, Mr. Vagt had significant executive and operational oil and gas industry experience, having served as President and Chief Operating Officer of Seagull Energy Corporation (an oil and gas exploration and production company) from 1996 to 1997, as President, Chairman and Chief Executive Officer of Global Natural Resources (a producer of oil and natural gas) from 1992 to 1996 and as President and Chief Operating Officer of Adobe Resources Corporation (oil and natural gas production company) from 1989 to 1992. Mr. Vagt also served as a director of El Paso Corporation from May 2005 to 2012, where he was a member of the Compensation and Health, Safety and Environmental Committees. Mr. Vagt’s professional background in both the public and private sectors makes him an important advisor and member of Equitrans Midstream’s Board. Mr. Vagt brings to the Board operations and management expertise in both the public and private sectors. In addition, Mr. Vagt provides the Board with diversity of perspective gained from service as President of The Heinz Endowments, as well as from service as the President of Davidson College.
Vicky A. Bailey
Ms. Bailey served as a director of EQT Corporation from June 2004 until the separation of EQT and Equitrans Midstream in November 2018. Ms. Bailey currently serves as the Chair of Equitrans Midstream’s Corporate Governance Committee and as a member of the Health, Safety, Security and Environmental Committee. Ms. Bailey has served as President, Anderson Stratton International, LLC (a strategic consulting and government relations), since November 2005; and Vice President, BHMM Energy Services, LLC (a utility and facilities management services), since January 2006. Ms. Bailey is a director of Cheniere Energy, Inc. (an energy company primarily engaged in liquefied natural gas related businesses), since March 2006; a director of PNM Resources, Inc. (an investor-owned holding company with two regulated utilities providing electricity and electric services in New Mexico and Texas), since December 2018; and was a director of Cleco Corporation (an energy services company with regulated utility and wholesale energy businesses) from June 2013 through March 2016.
Ms. Bailey has substantial regulatory and senior management experience in the energy industry, having previously served as a commissioner of the Federal Energy Regulatory Commission, President of PSI Energy, Inc. (a regulated utility) and commissioner of the Indiana Utility Regulatory Commission. These experiences enable her to provide valuable insights into issues facing Equitrans Midstream’s regulated transmission business, particularly with respect to interacting with regulatory agencies. In addition, Ms. Bailey provides leadership to Equitrans Midstream’s Board with respect to energy policy issues, owing to her previous experience as Assistant Secretary for the Office of Policy and International Affairs at the Department of Energy. Ms. Bailey also draws upon public company board experience in supporting the company’s strategic efforts.
Kenneth M. Burke
Mr. Burke served as a director of EQT Corporation from January 2012 until the separation of EQT and Equitrans Midstream in November 2018. Mr. Burke currently serves as the Chair of Equitrans Midstream’s Audit Committee and as a member of the Corporate Governance Committee. Mr. Burke was a Partner at Ernst & Young LLP (EY) (a Big Four accounting firm) between October 1982 and June 2004. Mr. Burke has served on the board of directors of Nexeo Solutions, Inc. (a publicly traded global chemical distributor) since November 2011. He also was appointed to the Boards of Directors of the EQM General Partner and the EQGP General Partner in September 2018, and serves as the Chair of the Audit Committee of Nexeo Solutions, Inc. and as a member of the Audit Committee of the EQM General Partner. Mr. Burke served as a director and as the Chair of the Audit Committee of the EQGP General Partner through Equitrans Midstream’s acquisition of 100% of the limited partner interests in EQGP Holdings, LP in January 2019.
Mr. Burke brings over three decades of experience focused on the energy industry, primarily oil and gas. Mr. Burke retired from EY in 2004, where he held a number of leadership positions, including National Energy Industry Director and Partner-in-Charge of the Houston Energy Services Group. He also co-authored the book “Oil and Gas Limited Partnerships: Accounting, Reporting and Taxation.” During his years at EY, Mr. Burke served as audit partner for numerous companies in the oil and gas industry. Mr. Burke also has substantial experience as a director of both public and private companies where he has served on and chaired a number of committees.
Margaret K. Dorman
Ms. Dorman served as a director of EQT Corporation from January 2012 until the separation of EQT and Equitrans Midstream in November 2018. Ms. Dorman currently serves as the Chair of Equitrans Midstream’s Management Development and Compensation Committee and as a member of the Audit Committee. Ms. Dorman served as Chief Financial Officer and Treasurer of Smith International, Inc. (a publicly-traded supplier of oil and gas products and services), between May 1999 and October 2009.
Ms. Dorman brings to Equitrans Midstream a wealth of financial expertise and experience in the natural gas industry, having served in numerous financial positions with Smith International, Inc. (now part of Schlumberger Limited), including as the chief financial officer for more than a decade, during a period of expansive growth. Prior to her time at Smith International, Inc., Ms. Dorman worked as an auditor, ultimately progressing to the role of senior audit manager. In addition to her financial controls experience, she has extensive experience building banking relationships, structuring debt financings, integrating acquisitions and as the lead investor relations executive, dealing with significant shareholder matters. Ms. Dorman also has prior board and audit committee experience, having served as a director of Hanover Compressor Company (a full service natural gas compression business) (now part of Exterran Holdings, Inc.), from 2004 to 2007, including as a member (and ultimately chair) of its audit committee.
Norman J. Szydlowski
Mr. Szydlowski served as a director of EQT Corporation from November 2017 until the separation of EQT and Equitrans Midstream in November 2018. Mr. Szydlowski currently serves as the Chair of Equitrans Midstream’s Health, Safety, Security and Environmental Committee and as a member of the Management Development and Compensation Committee. Mr. Szydlowski served as President and Chief Executive Officer of SemGroup Corporation (SemGroup) (publicly-traded midstream company that specializes in moving energy) from November 2009 through June 2014, and director of SemGroup from November 2009 through April 2014. Mr. Szydlowski served as a director of the general partner of 8point3 Energy Partners, LP (a publicly traded joint venture to own and operate solar generation assets) from June 2015 until its acquisition by Capital Dynamics, Inc. in June 2018. He also has served as a director of the general partner of JP Energy Partners LP (a publicly-traded oil and natural gas company) from July 2014 through March 2017, and a director of Transocean Partners, LLC (a publicly-traded offshore drilling contractor) from November 2014 to December 2016.
Mr. Szydlowski’s experience at SemGroup and before that as Chief Executive Officer of Colonial Pipeline Company (a refined pipeline system) and elsewhere provides him with significant executive and operational midstream experience. In particular, Mr. Szydlowski has a thorough understanding of master limited partnerships and midstream customers.