Equitrans Midstream Corp. has tapped Diana M. Charletta as its new CEO, replacing Thomas Karam, who will step down to become executive chair.
Charletta takes on the new role as CEO after serving as president and chief operating officer at the Canonsburg-based company. Charletta has been COO since September 2018 and president and COO since July 2019. The transition to CEO will take effect on Jan. 1, 2024.
Both Charletta and Karam will continue to serve as members of the Equitrans board following the leadership transition.
“I am proud to lead the organization into its next chapter and excited for the opportunity to guide the remarkable people who have established a culture that is committed to safety, environmental stewardship, operational excellence, and integrity,” Charletta said. “As we prepare for MVP in-service, I am also eager to explore the opportunities that the new takeaway capacity is positioned to present. We will work to continue to provide innovative solutions for our customers, to further optimize our assets and improve capital efficiency, and to operate safely and responsibly, all with a focus on driving meaningful value for Equitrans.”
Karam has served as CEO at the firm since September 2018.
“Nearly five years ago, Equitrans Midstream was launched as an independent, publicly traded company, and, since the beginning, we have been steadfast and resilient, persevering through challenges that many had thought were insurmountable,” Karam said. “We are targeting completion of the Mountain Valley Pipeline project by year-end and believe this is the right time to execute on our long-planned leadership succession strategy. Equitrans has a long history, a comprehensive asset footprint across the Appalachian Basin, and a very bright future. With deep-rooted operational experience, Diana is a respected leader among her peers and across the organization, and I am confident in her ability to successfully execute on our strategic priorities.”
Robert Vagt, Equitrans’ lead independent director, thanked Karam for his service.
“On behalf of the board of directors, I thank Tom for the leadership that only someone with his experience, expertise, and determination could have provided during the course of the past five years,” Vagt said. “In particular, and in the face of unprecedented challenges to the MVP project, it was his ability to navigate the legal, operational, and legislative labyrinth, which ultimately resulted in the inclusion of MVP in the Fiscal Responsibility Act of 2023. During this same period, Diana continued to prove herself an exceptional leader, combining her operational expertise with strategic corporate vision. Going forward, we are both pleased and very proud to have Diana leading Equitrans and grateful for Tom’s continuing support as executive chairman.”