Enterprise adds finance, energy industry veterans to board

Murray E. Brasseux and John R. Rutherford were elected members of Enterprise Products Partners’ general partner, Enterprise Products Holdings LLC. Brasseux and Rutherford were also appointed to serve on the board’s Audit and Conflicts Committee.

Brasseux is a member of the board of directors of Adams Resources & Energy Inc., a publicly-traded company primarily engaged in the business of crude oil marketing and tank truck transportation of liquid and dry bulk chemicals. He retired from Compass Bank in December 2014 after 20 years of service, having most recently served as managing director of Oil & Gas Finance. Brasseux also served as a consultant to Compass Bank from January 2015 to June 2015 and as a consultant to Loughlin Management Partners from June 2015 to December 2017. He also serves on the board of the Rare Book School, an affiliate of the University of Virginia.

Rutherford is a senior managing director of NRI Energy Partners LLC, a firm that evaluates and invests in private and public energy companies and provides financial and strategic consulting services to energy companies and investment firms. He previously served as executive vice president of the general partner of Plains All American Pipeline LP and as a member of Plains’ executive committee from October 2010 through July 2015. He also served as a financial consultant to Plains from July 2015 through September 2018.

Rutherford’s career includes over 20 years of investment banking experience as a mergers and acquisitions and strategic adviser to public and private energy companies, investment firms, management teams and boards of directors. Prior to joining Plains, Rutherford served as managing director of the North American Energy Practice of Lazard Freres & Co. from 2007 until 2010. Prior to joining Freres, he was a partner at Simmons & Co. for over 10 years.

Rutherford currently serves as the executive director of the Coalition for a Fair and Open Port, an ad hoc voluntary unincorporated nonprofit association of energy industry entities whose business operations depend on open and fair access to the Houston Ship Channel.

“We are pleased to add Murray and John to our board,” says A. J. “Jim” Teague, CEO of Enterprise’s general partner. “Both are seasoned veterans of the finance and energy industries. Their experience and insights will be additive and complementary to our board.”

In addition to the new board members, Ralph S. Cunningham, one of three voting trustees associated with privately-held Enterprise Products Co., has been appointed to serve as an advisory director. Affiliates of Enterprise Products Co. own Enterprise’s general partner and about 32 percent of its limited partner units.