Six board members resign from Williams Companies

TULSA, Okla. — Quick Facts:

  • 6 board members resign from Williams Cos.
  • The resignations come after a failure to oust the company's CEO
  • New makeup of the board means it will be harder to form new merger agreements in the future

Six members of the board of directors for Tulsa-based Williams Cos. resigned Thursday.

This comes days after ETE formally terminated a merger agreement with the company.

Company officials said the 6 directors were in favor of the merger and the remaining will work to keep the company in Tulsa.

The Tulsa Regional Chamber released a statement Thursday evening.

“We were really surprised by today’s occurrence,” said Mike Neal, president and CEO of the Tulsa Regional Chamber. “This was not expected at this point. However, we see this as exceptionally good news.

“Today’s events give Williams, its shareholders, the city of Tulsa and the state of Oklahoma the greatest chance for success, both now and in the years to come,” said Tulsa Mayor Dewey Bartlett.

A judge ruled last week that ETE could terminate the agreement. Williams shareholders voted on Monday to approve the agreement anyway.

SEE MORE: Williams shareholders say YES to ETE merger

ETE announced late Tuesday night their plans to terminate. They first purchased Williams for more than $30 billion in 2015.

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MORE COVERAGE OF THE WILLIAMS-ETE MERGER:

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City leaders praised the decision in hopes that the company will continue to call Tulsa home. Williams employs about 1,000 people in Tulsa.

FOX23 will continue to follow this story and update it as more develops.