Rentech has announced that Mr. D. Hunt Ramsbottom has resigned as CEO and President of Rentech and CEO of the general partner of Rentech Nitrogen Partners, L.P. to pursue other opportunities.
Ramsbottom has also resigned as a member of the board of Directors for both companies. “I’m proud of what we have built together here. After nine years, I feel it is the right time to pass the baton and let new leadership take the company into its next phase of growth. I remain very optimistic about Rentech’s future,” he said.
Mr. Keith Forman, a member of Rentech Nitrogen’s board since October 2011, has been appointed as CEO and President of Rentech and CEO of the general partner of Rentech Nitrogen. He has also joined the board of Rentech. Forman has an extensive background in master limited partnerships (MLPs). He has worked with MLPs in a variety of roles including as a banker, a senior executive and a director since the inception of MLPs in the 1980s.
He previously served as CFO of Crestwood Midstream Partners L.P., a private investment partnership focused on making equity investments in the midstream energy market. He also served as Senior VP for El Paso Corporation, a publicly traded provider of natural gas services, and CFO of GulfTerra Energy Partners, L.P., a publicly traded MLP acquired by Enterprise Products Partners L.P. Forman currently serves on the board of Capital Product Partners L.P., a publicly traded shipping MLP.
“The board of directors thanks Hunt for his leadership over the past nine years. Hunt spearheaded many successful transitional phases of the company, including the initial public offering of Rentech Nitrogen, the wind-down of the company’s alternative energy business and entry into the wood fibre business,” said Mr. Halbert Washburn, Chairman of the board of directors. “We’re confident that Keith can continue to successfully grow the company. With Keith’s rich experience in MLPs, we believe he is well qualified to lead the company as it works toward its goal of launching an MLP of the fibre business. As a member of Rentech Nitrogen’s board, Keith’s familiarity with Rentech’s fertiliser business will provide a smooth transition to his roles as CEO of Rentech and Rentech Nitrogen.”