Ferrellgas Hires New CFO, Michael E. Cole

Rhea-AI Summary

Ferrellgas Partners, L.P. (OTC: FGPR) has appointed Michael E. Cole as its new Chief Financial Officer. With over 35 years of experience in financial and energy sectors, Cole aims to enhance Ferrellgas's business growth and financial strategies. Previously, he served as CFO at NV Energy, part of Berkshire Hathaway Energy. Cole emphasizes results-oriented leadership and believes in Ferrellgas's potential for advancement. The company, serving propane customers nationwide, has about 4,500 employee-owners and operates the Blue Rhino brand at 60,000 locations.

Positive

• Appointment of Michael E. Cole as CFO expected to strengthen leadership.
• Cole's extensive experience in financial management may drive growth.
• Focus on results-oriented leadership aligns with Ferrellgas's goals.

Negative

• Transition to new CFO may raise concerns about continuity in leadership.

LIBERTY, Mo., March 03, 2023 (GLOBE NEWSWIRE) -- Ferrellgas Partners, L.P. (OTC: FGPR) announced it has hired Michael E. Cole as its new Chief Financial Officer. He brings more than 35 years of experience in financial and energy-related fields, as well as a collaborative leadership approach. He will join the almost 4,500 employee-owners of Ferrellgas, strengthening the future of Ferrellgas, a technology-enabled logistics company.

Michael came to Ferrellgas after serving as the Senior Vice President, Chief Financial Officer, and Treasurer of NV Energy, Inc., a Berkshire Hathaway Energy-owned utility in Las Vegas. He has worked for utilities and financial institutions in several states, including Illinois, Maine, New York, Missouri, North Carolina, and Nevada. He has extensive experience in executive and financial leadership, management, corporate finance, valuation, and risk management, as well as many other areas. “I’m looking forward to this new step in my career. I see a clear path for this company, and I’m proud to be a part of this team,” said Michael.

Michael strongly believes in results-oriented leadership. His creative strategies and finance optimization methods will help Ferrellgas achieve its long-term goals. “Mike’s unique skillset is an asset to Ferrellgas and its mission of growing our business and Fueling Life Simply for our customers,” said Chief Executive Officer James E. Ferrell.

About Ferrellgas
Ferrellgas Partners, L.P., through its operating partnership, Ferrellgas, L.P., and subsidiaries, serves propane customers in all 50 states, the District of Columbia, and Puerto Rico. Its Blue Rhino exchange brand is sold at 60,000 locations nationwide. Ferrellgas employees indirectly own 1.1 million common units of the partnership, through an employee stock ownership plan. Ferrellgas Partners, L.P. filed a Form 10-K with the Securities and Exchange Commission on September 30, 2022. Investors can request a hard copy of this filing free of charge and obtain more information about the partnership online at www.ferrellgas.com.

Contact: Communications@Ferrellgas.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3b735932-9458-42a1-9dca-99df1dd12d26

FAQ

Who is the new CFO of Ferrellgas Partners, L.P. (FGPR)?

The new CFO is Michael E. Cole, who has over 35 years of experience in financial and energy sectors.

What experience does Michael E. Cole bring to FGPR?

Michael E. Cole has served as CFO at NV Energy and has extensive experience in executive and financial leadership.

What impact will Michael Cole's appointment have on FGPR?

His appointment is expected to strengthen leadership and drive growth through his results-oriented approach.