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NextDecade Corp (NEXT.OQ)

NEXT.OQ on NASDAQ Stock Exchange Capital Market

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14 Dec 2018
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Summary

Name Age Since Current Position

Kathleen Eisbrenner

57 2018 Chairman of the Board

Matthew Schatzman

52 2018 President, Chief Executive Officer, Director

Benjamin Atkins

47 2017 Chief Financial Officer

Shaun Davison

2017 Senior Vice President - Development & Regulatory Affairs

Ping Lee

56 2018 Senior Vice President - LNG Marketing – China

Eric Garcia

2017 Chief Accounting Officer, Principal Accounting Officer

Erik Ludtke

2018 Chief Commercial Officer

Spencer Wells

47 2017 Director

Brian Belke

34 2017 Independent Director

Matthew Bonanno

39 2017 Independent Director

David Gallo

44 2017 Independent Director

Avinash Kripalani

34 2017 Independent Director

Koo Yung Lee

2018 Independent Director

David Magid

44 2018 Independent Director

Eric Rosenfeld

60 2017 Independent Director

John Schauerman

62 2014 Independent Director

Leonard Schlemm

65 2014 Independent Director

Adam Semler

53 2014 Independent Director

David Sgro

42 2017 Independent Director

William Vrattos

48 2017 Independent Director

Biographies

Name Description

Kathleen Eisbrenner

Ms. Kathleen Eisbrenner is Chairman of the Board of the Company. Ms. Eisbrenner has served as the Chairman of the Board since July 2017 and had served as the Company’s Chief Executive Officer from the Merger Date until February 2018. Mrs. Eisbrenner founded NextDecade in 2010 and served as its Chief Executive Officer for a little over seven years. Mrs. Eisbrenner was formerly Executive Vice President at Royal Dutch Shell (“Shell”), where she was responsible for the management of the company’s global LNG portfolio and LNG trading business, from September 2007 until December 2009. Prior to Shell, Mrs. Eisbrenner was the founder and Chief Executive Officer of Excelerate Energy, focused on developing the floating storage regasification unit vessel and industry. Mrs. Eisbrenner is a member of the National Petroleum Council, American Bureau of Shipping, JERA’s Fuel Business Expert Advisory Board, and Junior Achievement of Southeast Texas, among others. She is a former member of the Board of Chesapeake Energy. Mrs. Eisbrenner holds a Bachelor of Science in Civil Engineering from the University of Notre Dame. The Board believes that Mrs. Eisbrenner’s experience as a chief executive officer in the LNG industry and broader energy industries and vast knowledge of energy-related operations provide her with valuable and relevant experience in operations, company management, customer strategy and leadership of complex organizations, as well as extensive industry knowledge, and provides her with the qualifications and skills to serve as a Company director.

Matthew Schatzman

Mr. Matthew K. Schatzman is re designated as President, Chief Executive Officer, Director of the Company effective February 1, 2018. Mr. Schatzman has nearly 30 years of marketing, logistics and operational leadership experience with companies in the LNG, natural gas and oil industries, including BG Group and Dynegy. Mr. Schatzman most recently served as President at MKS Energy, LLC, an advisory and consulting firm focused on LNG, natural gas and crude oil markets, logistics and risk management. He was previously Executive Vice President, Global Energy Marketing and Shipping at BG Group, a British multinational oil and gas company from January 2012 until May 2014 and served as Senior Vice President, Energy Marketing from March 2007 until December 2011. Prior to that, he served in various roles at Dynegy, including President and CEO of Dynegy’s wholesale business. He holds a Bachelor of Arts in Political Science from Yale University.

Benjamin Atkins

Mr. Benjamin Atkins is Chief Financial Officer of the Company. Mr. Atkins has served as Chief Financial Officer of NextDecade since November 2015. Mr. Atkins is responsible for the Company’s capital strategy, project financing, financial reporting, controls, budgeting, tax reporting/incentives, and insurance. Before joining the Company, Mr. Atkins served as Senior Vice President at GE Capital, where he worked from November 2005 to October 2015, focusing on investment and portfolio management roles for thermal power and midstream equity investments. Mr. Atkins previously worked at McKinsey & Company and as a manager in State Street Corporation’s Securities Finance division. Mr. Atkins is a Chartered Financial Analyst and a licensed Certified Public Accountant in Connecticut and Texas. He was valedictorian of his class at the United States Naval Academy and served as a nuclear engineer in the United States Navy submarine fleet. He earned a Master of Arts degree in Philosophy, Politics, and Economics from Oxford University.

Shaun Davison

Mr. Shaun Davison is Senior Vice President - Development & Regulatory Affairs of the Company. Mr. Davison currently serves as Senior Vice President, Development & Regulatory Affairs of the Company. On July 1, 2015, NextDecade entered into an employment agreement with Mr. Davison (the “Davison Agreement”). The agreement provides for a term through July 1, 2018 and will be automatically extended for additional one-year periods unless and until either NextDecade or Mr. Davison gives to the other written notice at least one-hundred and eighty (180) days prior to the applicable renewal date of a decision not to renew for an additional year. The annual base salary set forth in the agreement is $250,000. Mr. Davison is eligible for an annual bonus with a target of 75% of his base salary based upon the achievement of performance targets established by the NextDecade from time to time. Mr. Davison’s minimum annual bonus is $93,750. If NextDecade at any time terminates Mr. Davison’s employment without Cause (as defined in the Davison Agreement), or if Mr. Davison voluntarily terminates the Davison Agreement with Good Reason (as defined in the Davison Agreement), the Davison agreement entitles him to (i) a cash payment equal to the sum of his then current base salary for a period of 18 months, (ii) a pro-rata portion of his annual bonus for the fiscal year in which the termination occurs and (iii) the full vesting of his Additional Shares and Restricted Shares.

Ping Lee

Dr. Ping Lee is Senior Vice President - LNG Marketing – China of the Company. Lee is the former President and Asset General Manager of BG Group, China, a position he held until 2016. In that role, Lee was instrumental in building BG Group's commercial and E&P interests; before its acquisition by Shell, BG Group had become China's largest LNG supplier. Prior to his time with BG Group, Lee held positions of increasing management responsibilities with Schlumberger, ultimately serving as Area President of Schlumberger from 2007 until 2011. He began his career with Schlumberger as a Research Scientist in 1990 in Austin, Texas. Lee holds masters and doctorate degrees in Computer Science and Mathematics, respectively, from Cornell University. He completed his undergraduate studies at the State University of New York in Buffalo. Lee serves on the Board of Directors of Cornerstone Bank in Atlanta, Georgia.

Eric Garcia

Mr. Eric Garcia is Chief Accounting Officer. Principal Accounting Officer of the company. He had more than 15 years of experience in the public accounting industry. He began his career at KPMG LLP in January 2002, and was most recently, an audit managing director at KPMG LLP’s Houston, Texas office. Eric received his Bachelor of Business Administration degree from the Anderson School of Management at the University of New Mexico. He is a Certified Public Accountant in Texas and New Mexico and a member of the American Institute of Certified Public Accountants.

Erik Ludtke

Mr. Erik Ludtke has been appointed Chief Commercial Officer of the Company effective November 1, 2018. Mr. Ludtke has nearly 25 years of experience in the energy industry. Prior to joining NextDecade, Mr. Ludtke led commercial and business development activities at NorthStar Midstream, a portfolio company of Oaktree Capital. From 2006 until 2011, Mr. Ludtke led Apache Corporation's oil and gas marketing and trading group in the U.S. and Latin America. Prior to 2006, Mr. Ludtke spent six years with Duke Energy, including three years as President of the company's South America (Southern Cone) business unit, and he worked at BG Group where he managed projects and regional business units, including assignments and leadership roles in Argentina, India, Israel, and the United Kingdom. Mr. Ludtke holds an economics degree from Texas A&M University and completed executive development course work at The Wharton School of the University of Pennsylvania.

Spencer Wells

Mr. Spencer L. Wells serves as Director of the company. Mr. Wells co-founded Drivetrain Advisors, LLC, a firm providing fiduciary services to the alternate investment community, in December 2013, where he currently serves as a Partner. Most recently, Mr. Wells was employed by TPG Special Situations Partners from 2010 to 2013, where he first served as Partner from September 2010 to January 2012, and then as a Senior Advisor from January 2012 to July 2013. Mr. Wells also served as a Partner/Portfolio Manager for Silverpoint Capital from September 2002 to July 2009. Prior to joining Silverpoint Capital, Mr. Wells served as a Director at the Union Bank of Switzerland from May 2001 to September 2002 and as a Vice President of Deutsche Bank AG from January 1999 to May 2001. Mr. Wells currently serves on the boards of directors of Roust Corporation, Samson Resources II, LLC, Lily Robotics, Inc., Vantage Drilling International, Town Sports International Holdings, Inc., Preferred Proppants LLC, and Advanced Emissions Solutions, Inc.

Brian Belke

Mr. Brian Belke is Independent Director of the Company. Mr. Belke served as member of the board of managers of NextDecade from June 2015 until July 2017. Mr. Belke is a Partner at Valinor where he has worked since June 2010. Prior to Valinor, Mr. Belke was an Equity Research Associate at Fidelity Investments. He is a Chartered Financial Analyst and is a member of the CFA Institute and the New York Society of Securities Analysts. Mr. Belke earned a Bachelor of Science in Management with concentrations in Finance and Accounting, summa cum laude, from Boston College, and a Master of Business Administration from Harvard Business School, where he graduated with High Distinction as a Baker Scholar.

Matthew Bonanno

Mr. Matthew Bonanno is Independent Director of the Company. Mr. Bonanno joined York in July 2010 and is a Partner of the firm. Mr. Bonanno joined York from the Blackstone Group where he worked as an associate focusing on restructuring, recapitalization and reorganization transactions. Prior to joining the Blackstone Group, Mr. Bonanno worked on financing and strategic transactions at News Corporation and as an Investment Banker at JP Morgan and Goldman Sachs. Mr. Bonanno, in his capacity as York employee, has served as a member of the boards of directors of (i) Rever Offshore AS, (ii) all entities incorporated pursuant to York’s partnership with Costamare Inc. and Augustea Bunge Maritime, (iii) Vantage Drilling International (“Vantage”), (iv) Linn Energy Inc. and (v) Samson Resources II, LLC (“Samson”). Mr. Bonanno received a Bachelor of Arts in History from Georgetown University and a Master of Business Administration in Finance from The Wharton School of the University of Pennsylvania.

David Gallo

Mr. David Gallo serves as Independent Director of the company. Mr. Gallo is the founder, portfolio manager and managing partner of Valinor Management, the investment manager of an equity long-short hedge fund with over $3 billion in assets under management, where he has worked since July 2007. Prior to founding Valinor, Mr. Gallo was a senior analyst at Bridger Capital and worked at investment firms including Tiger Management, Kohlberg Kravis Roberts & Co., and the Blackstone Group. Mr. Gallo received his BS in economics, summa cum laude, from the Wharton School of the University of Pennsylvania and his MBA from Harvard Business School, where he graduated as a Baker Scholar.

Avinash Kripalani

Mr. Avinash Kripalani is Independent Director of the Company. Mr. Kripalani has served as a Company director since July 2017 and served as a member of the board of managers of NextDecade from April 2016 until July 2017. Mr. Kripalani is a principal at Halcyon Capital Management, LP (“Halcyon”), where he has worked since April 2008. Prior to Halcyon, he was a Consultant at IBM. Mr. Kripalani earned a Bachelor of Arts in Economics and a Bachelor of Science and a Master of Science in Systems and Information Engineering from the University of Virginia.

Koo Yung Lee

Mr. Koo Yung Lee is Independent Director of the Company. Since November 2017, Mr. Lee has served as Executive Vice President, Corporate Strategy Office, of Hanwha Chemical Corporation, a company principally engaged in the manufacture and distribution of chemical products. From April 2015 until October 2017, Mr. Lee served as President of Hanwha Q CELLS America Inc. and from October 2012 until March 2015, he served as Chief Commercial Officer of Hanwha Q CELLS GmbH (together with Hanwha Q CELLS America Inc., “Hanwha Q CELLS”). Hanwha Q CELLS is a manufacturer of high-quality solar cells and photovoltaic modules. Mr. Lee received a Bachelor of Arts degree in Political Science from Yonsei University in Seoul, South Korea.

David Magid

Mr. David Magid is Independent Director of the Company. Mr. Magid is a vice president at York Capital Management, L.P, and as such may also be deemed the beneficial owner of shares of Common Stock held by the York Entities. Mr. Magid disclaims beneficial ownership over any securities owned by the York Entities (except to the extent of any pecuniary interest therein). Mr. Magid joined York in July 2013 and is a Vice President of York. Prior to joining York, he worked at Credit Suisse as an Analyst in Leveraged Finance, Origination, & Restructuring. Mr. Magid received a Bachelor of Arts in Economics and Politics from Brandeis University and a Master of Business Administration from Columbia Business School. The Board believes Mr. Magid’s experience as a private equity principal and in other senior executive leadership roles with his respective firms’ investments in a wide range of industries and his valuable and relevant experience in private financing, strategic investing and restructuring provide him with the qualifications and skills to serve as a Company director.

Eric Rosenfeld

Mr. Eric Stuart Rosenfeld serves as Independent Director of the company., Mr. Rosenfeld previously served as the chairman of the board and chief executive officer of Quartet Merger Corp., a blank check company (“Quartet”), from its inception in April 2013 until its merger with Pangaea Logistics Ltd. (“Pangaea”) in October 2014, and has served as a director of Pangaea since such time. Mr. Rosenfeld was chairman of the board and chief executive officer of Trio Merger Corp. (“Trio”) from its inception in June 2011 until its merger with SAExploration Holdings Inc. (“SAE”) in June 2013 and served as a director of SAE from that time until July 2016. Mr. Rosenfeld has been the president and chief executive officer of Crescendo Partners, L.P., a New York-based investment firm, since its formation in November 1998. He has also been the senior managing member of Crescendo Advisors II LLC, the entity providing the Company with general and administrative services, since its formation in August 2000. From April 2006 until July 2008, Mr. Rosenfeld served as the chairman of the board, chief executive officer and president of Rhapsody Acquisition Corp. (“Rhapsody”), an OTCBB-listed blank check company. Rhapsody completed its business combination in July 2008 with Primoris Services Corporation and is now listed on the NASDAQ Stock Market. Mr. Rosenfeld served as a director of that company from the completion of its business combination in July 2008 until May 2014. From its inception in April 2004 until June 2006, he was the chairman of the board, chief executive officer and president of Arpeggio Acquisition Corp. (“Arpeggio”), an OTCBB-listed blank check company. Arpeggio completed its business combination in June 2006 with Hill International, now listed on the NYSE. Mr. Rosenfeld served as a director of Hill International, Inc. from the time of the business combination until June 2010. Mr. Rosenfeld is currently chairman of the board of CPI Aerostructures, Inc. a NYSE MKT-listed company engaged in the contra

John Schauerman

Mr. John P. Schauerman is an Independent Director of the company., since July 2014. Mr. Schauerman served as executive vice president, corporate development of Primoris from February 2009 to May 2013, and served as a Director of Primoris from July 2008 to May 2013. He served as the chief financial officer of Primoris from February 2008 to February 2009. He also served as a director of Primoris and its predecessor entity from 1993 to July 2008. He joined Primoris’ wholly-owned subsidiary, ARB, Inc., in 1993, as senior vice president. In his current role, he is responsible for developing and integrating Primoris’ overall strategic plan, including the evaluation and structuring of new business opportunities and acquisitions. Prior to joining ARB, Inc., he was senior vice president of Wedbush Morgan Securities. Mr. Schauerman received a B.S. in Electrical Engineering from UCLA and an M.B.A. from Columbia Business School.

Leonard Schlemm

Mr. Leonard B. Schlemm is an Independent Director of the company., since July 2014. Mr. Schlemm has served as the chairman of Myca Health Inc., a medical software company focused on primary care practices across the United States, since May 2013 and a member of its board since 2008. Mr. Schlemm is also the co-founder and a board member in a number of fitness center companies across Canada and Europe, including The Atwater Club (since February 2002) and The Mansfield Clubs (since 2005). He also served as chairman of the board of AD OPT Technologies from November 2002 until April 2004. From November 1999 until its merger with Net pulse Communications and E-Zone Networks in November 2000, he served as chairman of the board of Xystos Media Networks, an interactive media company with three million users under long-term contract. Mr. Schlemm was a co-founder of 24 Hour Fitness, one of the world’s largest privately owned and operated fitness center chains, sold to private equity investors in June 2014 for $1.9 billion, and was its chairman from September 1986 until July 1997. From June 1996 to January 1999, Mr. Schlemm served as a member of the board of directors of Forza Limited, a European fitness equipment distribution company. Mr. Schlemm was a member of the board of directors of Arpeggio from its inception in April 2004 until its merger in June 2006 and was a member of the board of directors of Rhapsody from its inception in April 2006 until its merger in July 2008. Mr. Schlemm received a Bachelor of Commerce degree from McGill University (great distinction) and an M.B.A. from Harvard University (with distinction). He also received his Chartered Accountant designation in Canada in 1975.

Adam Semler

Mr. Adam J. Semler is an Independent Director of the company., since July 2014. Mr. Semler joined York Capital Management, an investment management fund, in 1995 and held several positions with the firm, most recently holding the position of chief operating officer and member of its managing partner until he retired in December 2011. While at York Capital Management, he was responsible for all financial operations of the firm. During this time, he also served as chief financial officer and secretary of York Enhanced Strategies Fund, LLC, a closed ended mutual fund. Previously, he was at Granite Capital International Group, an investment management firm, where Mr. Semler was responsible for the accounting and operations function for its equity products. He also previously worked as a senior accountant at Goldstein, Golub, Kessler & Co., where Mr. Semler specialized in the financial services industry, as well as a senior accountant at Berenson, Berenson, Adler. Mr. Semler is a C.P.A. and received a B.B.A. from Emory University.

David Sgro

Mr. David D. Sgro serves as Independent Directoof the Company. He served as Quartet’s chief financial officer, secretary and a member of its board of directors from April 2013 until its merger with Pangaea in October 2014 and has served as a director of Pangaea since such time. Mr. Sgro served as Trio’s chief financial officer, secretary, and a member of its board of directors from its inception in June 2011, until its merger with SAE in June 2013 and served as a director of SAE from that time through June 2016. From April 2006 to July 2008, Mr. Sgro served as the chief financial officer of Rhapsody and from July 2008 to May 2011, Mr. Sgro served as a director of Primoris. Mr. Sgro has been a Senior Managing Director of Crescendo Partners, L.P. since December 2008 and has held numerous positions with Crescendo Partners since May 2005. Mr. Sgro also serves on the board of Imvescor Restaurant Group, a TSX listed restaurant franchisor; Hill International, Inc., a NYSE listed construction project management company; and BSM Technologies Inc., a TSX listed GPS enabled fleet management company. Mr. Sgro served on the board of Bridgewater Systems, Inc., a TSX listed telecommunications software company, from June 2008 until its sale to Amdocs in August 2011 and COM DEV International Ltd., a global designer and manufacturer of space hardware from April 2013 until its sale to Honeywell in February 2016. From August 2003 to May 2005, Mr. Sgro attended Columbia Business School. From June 1998 to May 2003, he worked as an analyst and then senior analyst at Management Planning, Inc., a firm engaged in the valuation of privately held companies. Simultaneously, Mr. Sgro worked as an associate with MPI Securities, Management Planning, Inc.’s boutique investment banking affiliate. From June 2004 to August 2004, Mr. Sgro worked as an analyst at Brandes Investment Partners. Mr. Sgro received a B.S. in Finance from The College of New Jersey and an M.B.A. from Columbia Business School. In 2001, he became a Chartered Financial Analyst.

William Vrattos

Mr. William Vrattos is Independent Director of the Company. Mr. has served as a Company director since July 2017 and served as a member of the board of managers of NextDecade from June 2015 until July 2017. Mr. Vrattos joined York Capital Management, L.P. (“York”) in January 2002 and is a partner of York. Mr. Vrattos is a Co-Portfolio Manager of the York Credit Opportunities, York European Distressed Credit and York Global Credit Income funds and a member of York’s executive committee. Prior to joining York, he worked at Georgica Advisors LLC as a Portfolio Manager specializing in media and communications equities and distressed securities and at Morgan Stanley & Co., Inc. as an investment banker. Mr. Vrattos is currently a member of the board of directors or advisory board, as applicable and in his capacity as a York employee, of all entities related to Entropy Investments, all entities incorporated pursuant to York’s partnerships with Costamare Inc. and Augustea Bunge Maritime, and India 2020. In addition, he serves on the Board of Trustees of The Buckley School, the Board of Trustees of Groton School and the Board of the Museum of the City of New York. Mr. Vrattos received a Bachelor of Arts in English from Dartmouth College and a Master of Business Administration from Harvard Business School.