Matthew (Matt) Schatzman was appointed Chief Executive Officer of NextDecade Corporation (NASDAQ: NEXT) on February 1, 2018. Mr. Schatzman was subsequently elected Chairman of the Board of Directors effective June 4, 2019. He joined the company as President and member of the Board of Directors on September 18, 2017. Mr. Schatzman has over 30 years of experience in the energy industry, including as Executive Vice President Global Energy Marketing and Shipping and member of the Group Executive Committee at BG Group where he was responsible for the company’s global marketing, trading and shipping activities for LNG, crude oil and natural gas. During his tenure at BG Group, Mr. Schatzman played a pivotal role in the success and growth of BG Group’s LNG business, transforming it into a global leader in flexible LNG supply and trading. Mr. Schatzman also held senior executive roles at Dynegy and started his career at Transco Pipeline, a subsidiary of Williams. In addition to managing an international portfolio of LNG, shipping, and commodity trading positions, Mr. Schatzman’s expertise extends to hedging, risk management and process improvement across a diverse portfolio of development and operating assets. Mr. Schatzman graduated from Yale University with a Bachelor of Arts in Political Science and is a member of the National Petroleum Council.
Committee: Finance and Risk, Operations
Brian Belke has served as a Director of NextDecade since June 2015. Mr. Belke is a Partner at 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 June 2010. Prior to Valinor Management, Mr. Belke was an Equity Research Associate at Fidelity Investments. He is a CFA® Charterholder and is a member of the CFA Institute and the New York Society of Securities Analysts. Mr. Belke earned a B.S. 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.
Committee: Finance and Risk, Compensation, Nominating and Corporate Governance, Operations
Matthew Bonanno was appointed Lead Independent Director effective June 4, 2019. He had served as Interim Chairman of the Board of Directors from May 14, 2019 until June 4, 2019. Mr. Bonanno is a Partner and the Co-Head of North American Credit at York Capital Management. Prior to joining York in 2010, Mr. Bonanno was an Associate at The Blackstone Group. He also previously worked for News Corporation, JP Morgan, and Goldman Sachs. Mr. Bonanno is currently a member of the Board, in his capacity as a York Capital Management employee, of NextDecade Corporation, Rever Offshore AS, Vantage Drilling Co., Linn Energy Inc., Samson Resources II, LLC, and all entities incorporated pursuant to York Capital Management’s partnership with Costamare Inc. and Augustea Bunge Maritime. Mr. Bonanno received a Bachelor of Arts in History from Georgetown University and a Master of Business Administration (MBA) in Finance from The Wharton School of the University of Pennsylvania.
Committee: Finance and Risk, Compensation, Nominating and Corporate Governance, Operations
Sir Frank Chapman was appointed to NextDecade’s Board of Directors (Board) as a non-executive, independent director effective November 1, 2019. Sir Frank graduated with first class honors in Mechanical Engineering from Queen Mary College, London University. He has spent 40 years in the oil and gas industry, beginning his career with BP plc before moving to Royal Dutch Shell plc, where he worked for 18 years. He then moved to British Gas as Managing Director Exploration and Production in 1996. Sir Frank was appointed Chief Executive of BG Group plc (previously British Gas) in 2000 and was a member of its Board of Directors for over 16 years. He retired from BG Group plc in June 2013. Sir Frank was also Chairman of Golar LNG Ltd from September 2014 to September 2015 and currently serves on the Board of Directors of Rolls-Royce Holdings, plc. He was named in the 2011 Queen’s Birthday Honours List and knighted for services to the oil and gas industry.
David 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 Master of Business Administration (MBA) from Harvard Business School, where he graduated as a Baker Scholar.
Taewon Jun was appointed a director of NextDecade in June 2019. Since April 2019, Mr. Jun has served as a Senior Vice President of Hanwha Holdings (USA), Inc., a holding company of various entities. From July 2016 until March 2019, Mr. Jun served as an Executive Director of Morgan Stanley Private Equity Asia and, from June 2012 until June 2016, he served as a Senior Director of Mergers and Acquisitions at Hanwha Group’s management and planning headquarters in Seoul, South Korea. Hanwha Group is a business conglomerate with affiliates operating in various industries including chemicals, energy, petrochemicals, solar, aerospace, and defense as well as finance, asset management, and hotel and resorts. Mr. Jun received a Bachelor of Science in Business Administration from Korea University and a Master of Business Administration from the University of Pennsylvania.
Committee: Finance and Risk, Audit, Compensation
Avinash Kripalani has served as a Director of NextDecade since April 2016. Mr. Kripalani is a Managing Principal of Bardin Hill Investment Partners, where he has worked since 2008. Prior to Bardin Hill, which was previously known as Halcyon Capital Management, Mr. Kripalani was a Consultant at IBM. Mr. Kripalani earned a Bachelor of Arts in Economics, a Bachelor of Science in Systems and Information Engineering and Master of Science in Systems and Information Engineering from the University of Virginia.
Committee: Finance and Risk, Audit, Compensation, Operations
David Magid joined York Capital Management in July 2013 and is a Vice President of the Firm. Prior to joining York Capital Management, he worked at Credit Suisse as an Analyst in Leveraged Finance, Origination, & Restructuring. Mr. Magid received an M.B.A. from Columbia Business School and a B.A. in Economics and Politics from Brandeis University.
Mr. Al Romaithi was appointed to NextDecade’s Board of Directors on December 27, 2019. Mr. Al Romaithi is the Executive Director, Midstream, in the Petroleum and Petrochemicals business at Mubadala Investment Company. He is responsible for pursuing attractive investment opportunities across the entire oil and gas infrastructure value chain with a primary focus on natural gas and crude gathering, treating, compression, processing and storage, pipeline, natural gas liquefaction and regasification. Prior to Mubadala, Mr. Al Romaithi held various senior managerial positions, including Director of Downstream Investments and Head of Portfolio Management, at the International Petroleum Investment Company.
Mr. Al Romaithi serves on the Board of Directors of several companies including Sumed, Gulf Energy Maritime PJSC, Arabtec Holding Co. PJSC, Depa United Group, and Abu Dhabi National Takaful Co. Mr. Al Romaithi received a Bachelor of Business Administration with a major in Finance from the University of Portland.
Eric S. Rosenfeld served as Harmony Merger Corp.’s Chairman and Chief Executive Officer from its inception in March 2015 until its merger with NextDecade in July 2017, and has served as a Director of NextDecade since that time. Mr. Rosenfeld served as Quartet Merger Corp.’s chairman of the board and chief executive officer from its inception in April 2013 until its merger with Pangea Logistics Solutions Ltd. in October 2014 and has served as a director of Pangaea since such time. Mr. Rosenfeld has held a number of leadership positions, including chairman of the board and chief executive officer of Trio Merger Corp., director of SAE, president and Chief Executive Officer of Crescendo Partners, L.P. and senior managing member of Crescendo Advisors II LLC. He’s also served as the chairman of the board, chief executive officer and president of Rhapsody Acquisition Corp., an OTCBB-listed blank check company. Mr. Rosenfeld is a regular guest lecturer at Columbia Business School and has served on numerous panels at Queen’s University Business Law School Symposia, McGill Law School, the World Presidents’ Organization and the Value Investing Congress. He is a senior faculty member at the Director’s College. He has also been a regular guest host on CNBC. Mr. Rosenfeld received an A.B. in economics from Brown University and an M.B.A. from the Harvard Business School.
Committees: Audit, Compensation, Nominating and Corporate Governance
William Vrattos has served as a Director of NextDecade since June 2015. Mr. Vrattos joined York Capital Management in January 2002 and is a Partner of the Firm. Mr. Vrattos has been Co-Chief Investment Officer of the Firm since July 1, 2017. Mr. Vrattos is also a Co-Portfolio Manager of the York Credit Opportunities, York European Distressed Credit and York Global Credit Income funds and a member of the Firm’s Executive Committee. From 1997 to 2002, he worked at Georgica Advisors LLC as a Portfolio Manager specializing in media and communications equities and distressed securities. From 1995 to 1997, he rejoined Morgan Stanley & Co., Inc. as an investment banker, where he worked for two years prior to attending business school. Mr. Vrattos is currently a member of the Board of Directors or Advisory Board, as applicable and in his capacity as a York Capital Management employee, of (i) all entities related to Entropy Investments, (ii) all entities incorporated pursuant to York Capital Management’s partnerships with Costamare Inc. and Augustea Bunge Maritime, (iii) NextDecade Corporation, and (iv) India 2020. In addition, he serves on the Board of Trustees of The Buckley School, the Board of Trustees of Groton School, the Board of the Museum of the City of New York and is a member of the Investment Committee of the Dartmouth College Endowment. Mr. Vrattos received a B.A. in English from Dartmouth College and a Master of Business Administration (MBA) from Harvard Business School.
Spencer 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. Mr. Wells was previously 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.
Committee: Audit, Nominating and Corporate Governance