Kinder Morgan is one of the biggest energy infrastructure companies in North America and is certainly one of the best known. Their pipelines connect to every natural gas reserve in the United States which makes them one of the most important companies that are operating in this sector. Here are ten things that you might not know about the CEO Steve Kean.
1. He Has Worked In The Energy Industry Since 1985
Steve Kean has a long career in the energy industry and he has undertaken a number of different roles throughout his career. He entered the industry in a legal capacity before moving into more management style roles. The fact that he has been working in the industry for so many years shows that he is very good at his job which may have been one of the main reasons that Kinder Morgan hired him.
2. He Has A Law Degree
He graduated from the University of Iowa with a Juris Doctor in 1985. Prior to this he gained a Bachelor of Arts Degree from Iowa State. The education that he received at these two institutions set him up for his future career, even though he is no longer practicing law on a regular basis.
3. He Joined Kinder Morgan In 2002
He had worked for various companies in the energy sector before joining Kinder Morgan in 2002. He entered the company in a senior management position before working his way up to the top position in the business. This has allowed him to get to know the way that the company works and the work that he needs to continue to do in the company.
4. He Earns Almost $400,000 As A Shareholder
The compensation that he receives from Kinder Morgan totals almost $400,000 on an annual basis. This is mostly from bonuses and other payments that are based on his performance in his role of CEO.
5. His Actual Salary Is Only $1
The official salary that he gets paid as his role of CEO is only $1 for the year. This is a standard procedure in Kinder Morgan as they have an ethos of being completely transparent in terms of the pay that they offer their executives. They believe that their top people should not just receive a high salary without earning it through the work that they do.
6. He Does Not Receive Any Other Perks As Part Of His Job
As part of the policy that Kinder Morgan operates in respect to how people are paid for their work, there are no additional perks that Kean gets just for being CEO. This is quite unusual for big companies in the United States who usually offer perks such as tickets to major events and access to holiday homes.
7. He Was President Of Kinder Morgan Until April 2018
As well as holding the position of CEO, he was also President of the company until April 2018. This position was given to Kimberley Dang following a reshuffle of the board. He has some of the same responsibilities as CEO that he had as President and as a result he works closely with Kimberley Dang. One of the main changes in his new role as CEO is that he is no longer responsible for as many day to day management decisions.
8. He Provides Insight When Financial Results Are Released
When the financial results for the company are released every quarter Steve Kean provides some insight into this. This gives people a better idea of any particular successes that have taken place in the business or why the performance may not have been as good as expected.
9. He Is Responsible For Trying To Achieve Operational Excellence
One of the main things that Kinder Morgan are always looking for are ways that they can improve their operations. This is something that Steve Kean is personally involved in and is one of his main duties as CEO.
10. He Has Overseen Expansion Of Kinder Morgan Into Canada
Kinder Morgan had been operating in the United States for many years but they have also recently expanded into Canada. This is something that has been seen as a natural progression for the company due to the extensive pipelines that they already have in North America.