Willie C. Chiang became the CEO of Plains GP Holdings, L.P. on October 1, 2018. Previously, he served as Executive Vice President and Chief Operating Officer. He holds a Bachelor's degree in Engineering and has a solid background in the...

Willie C. Chiang became the CEO of Plains GP Holdings, L.P. on October 1, 2018. Previously, he served as Executive Vice President and Chief Operating Officer. He holds a Bachelor's degree in Engineering and has a solid background in the industry, mainly focusing on making operations effective and efficient. One interesting fact is that in 2021, his total compensation was around $3.9 million, with a big chunk of that coming from bonuses tied to performance metrics like Adjusted EBITDA and safety metrics. Willie has made significant moves in the company's structure since taking over, emphasizing cash-based compensation rather than stock options and bonuses, which shows a clear alignment with immediate performance rather than long-term stock prices. Around the same time, he received a special grant of 500,000 phantom units, which he's aiming to convert into real equity based on performance achievements tied to the company's cash flow. His leadership strategy includes balancing risk with operational success. Chiang's professional journey emphasizes strong performance metrics, aligning his interests with shareholders. Overall, he’s making bold choices to steer Plains GP toward steady growth and improved performance metrics and is an interesting figure to watch in this sector.