Enterprise Products names Fowler sole CEO as Teague retires

A.J. “Jim” Teague, co-CEO of Enterprise Products Partners‘ general partner, plans to retire effective Jan. 4, 2027. W. Randall “Randy” Fowler, Enterprise’s other co-CEO, will become sole CEO at that time.

“Jim has been integral to our success since he joined Enterprise in 1999,” says Randa Duncan, non-executive chairman of Enterprise’s general partner. Under Teague’s leadership, Duncan says Enterprise expanded its role in developing markets for natural gas liquids from U.S. shale production. The company became the first midstream firm to offer wellhead-to-water NGL services in 2009, she said, which helped boost revenue for U.S. shale producers and supply ethane and propane to international markets.

Duncan says Teague also helped shift the market for ethylene and polymer-grade propylene on the Gulf Coast from privately negotiated contracts to transparent pricing and storage hubs in Mont Belvieu, Texas, a change that later led to the development of financial futures markets for those products.

“Over this period, we have grown the enterprise value of the partnership from $1.8 billion to almost $120 billion,” says Duncan. “All of us at Enterprise are grateful for Jim’s 28 years of leadership and contributions.” She says Teague will assist with transition activities over the next six months in addition to his regular duties.

Teague spent 22 years at Dow Chemical before joining Enterprise, including a stint as vice president of hydrocarbon feedstocks. “My 28 years with Enterprise Products have been even more meaningful,” says Teague. “I have had the privilege of being part of an organization that has grown far beyond what I could have ever imagined.”

Fowler has served as a director of Enterprise’s general partner since 2011 and as co-CEO since 2020. He also served as CFO from 2007 to 2015 and again from 2018 to 2024. He joined Enterprise in 1999, shortly after the company’s initial public offering, and has 48 years of experience in finance and accounting in the energy industry.

Following Teague’s retirement, Enterprise’s general partner will expand its Office of the Chairman, a management oversight group that serves as a liaison between the board and senior leadership. The office currently consists of Duncan, vice chairman Richard H. “Hank” Bachmann and co-chief executives Teague and Fowler. After the transition, it will include Duncan, Bachmann, Fowler, chief commercial officer Michael C. “Tug” Hanley and CEO R. Daniel Boss.

Featured homepage image: arthobbit/iStock / Getty Images Plus/Getty Images