NextDecade Elects Matthew K. Schatzman as Chairman of the Board of Directors
June 05 2019 - 4:30PM
Business Wire
NextDecade Corporation (NextDecade) (NASDAQ: NEXT) announced
today that its Board of Directors (Board) has elected Matthew K.
Schatzman, NextDecade’s Chief Executive Officer, to serve as
Chairman of the Board. Mr. Schatzman assumed his additional duties
effective June 4, 2019. Matthew W. Bonanno, who served as Interim
Chairman since May 14, 2019, was appointed Lead Independent
Director, also effective June 4, 2019.
“The Board has the highest confidence in Matt, who has been
instrumental in advancing the strategic direction of the business
since joining NextDecade almost two years ago,” said Mr. Bonanno.
“We believe Matt is ideally suited to deliver our Rio Grande LNG
project and to maximize the value of our business for all
stakeholders.”
Mr. Schatzman joined NextDecade as President and member of the
Board of Directors on September 18, 2017. He was appointed
President and Chief Executive Officer on February 1, 2018.
Additionally, the Board welcomed Mr. Taewon Jun as a director.
Mr. Jun was nominated by HGC NEXT INV LLC to replace its previous
director designee, Mr. Koo Yung Lee. Mr. Jun is a Senior Vice
President of Hanwha Holdings (USA), Inc.
About NextDecade Corporation
NextDecade is a liquified natural gas (LNG) development company
focused on LNG export projects and associated pipelines in Texas.
NextDecade intends to develop the largest LNG export solution
linking Permian Basin associated gas to the global LNG market,
creating value for producers, customers, and stockholders. Its
portfolio of LNG projects includes the 27 mtpa Rio Grande LNG
export facility in Brownsville, Texas and the 4.5 Bcf/d Rio Bravo
Pipeline that would transport natural gas from the Agua Dulce area
to Rio Grande LNG. NextDecade’s common stock is listed on the
Nasdaq Stock Market under the symbol “NEXT.” NextDecade is
headquartered in Houston, Texas. For more information, visit
www.next-decade.com.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING
STATEMENTS
This press release contains forward-looking statements within
the meaning of U.S. federal securities laws. The words
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,”
“might,” “plan,” “potential,” “project,” “should,” “will” and
similar expressions are intended to identify forward-looking
statements, and these statements may relate to the business of
NextDecade and its subsidiaries. These statements have been based
on NextDecade’s current assumptions, expectations, and projections
about future events and involve a number of known and unknown
risks, which may cause actual results to differ materially from
expectations expressed or implied in the forward-looking
statements. These risks include uncertainties about NextDecade’s
Rio Grande LNG and Rio Bravo Pipeline projects; its ability to
secure additional debt and equity financing in the future to
complete its contemplated projects; the accuracy of the estimated
costs for the projects; governmental approval of construction and
operation of the projects; the successful completion of the
projects by third-party contractors; its ability to generate cash;
the development risks, operational hazards, regulatory approvals
applicable to the projects’ construction and operations activities;
its anticipated competitive advantage; the global demand for and
price of natural gas (versus the price of imported LNG); the
availability of LNG vessels worldwide; legislation and regulations
relating to the LNG industry; negotiations for the project site
lease and right-of-way options for the pipeline route; compliance
with environmental laws and regulations; the result of future
financing efforts and applications for customary tax incentives;
and other matters discussed in the “Risk Factors” section of
NextDecade’s Annual Report on Form 10-K for the year ended December
31, 2018 and other subsequent reports filed with the Securities and
Exchange Commission, all of which are incorporated herein by
reference.
Additionally, any development of the projects remains contingent
upon completing required commercial agreements; acquiring all
necessary permits and approvals; securing all financing commitments
and potential tax incentives; achieving other customary conditions;
and making a final investment decision to proceed. The
forward-looking statements in this press release speak as of the
date of this release. Although NextDecade believes that the
expectations reflected in these forward-looking statements are
reasonable, it can give no assurance that the expectations will
prove to be correct. NextDecade may from time to time voluntarily
update its prior forward-looking statements, however, it disclaims
any commitment to do so except as required by securities laws.
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