Regency Energy Partners LP, a Dallas-based gas pipeline owner-operator appointed Michael J. Bradley as president and CEO, effective on Nov. 22, and Thomas E. Long as executive vice president and CFO, effective on Dec. 1. Bradley had been president and CEO and Long had been vice president and CFO of Tulsa, Okla.-based engineer-constructor Matrix Service Co. Bradley replaces Byron Kelley, who retired. The moves, announced on Nov. 9, come six weeks after Matrix disclosed in its annual federal financial report that a subcontractor, colluding with a Matrix employee, had fraudulently invoiced the company for $1.7 million over four years. To cover this fraud, Matrix had overbilled customers by $1.3 million. Matrix says all customers have been reimbursed and that the fraud may cost the company between $300,000 and $600,000 after insurance. Michael J. Hall, Matrix’s chairman, says the firm’s board is evaluating internal and external candidates to fill the two positions. Matrix ranked No. 71 on the ENR Top 400 Contractors list.
Matrix Execs Move to Pipeline Firm After Fraud Finding
November 10, 2010