John Raymond was automatically removed from the board of PAA GP Holdings LLC on May 30 after the company he represented conducted transactions that lowered its interest in Plains AAP LP to below 10% and lost its right to designate a director.
Raymond, who represented EMG Investments LLC, will continue to serve as a class I director of PAA GP Holdings until the board names a successor at the company's 2020 annual meeting, according to a May 30 SEC filing by Plains All American Pipeline LP. Raymond will also remain a member of the board's compensation committee.
PAA GP Holdings' board manages the business and affairs of Plains All American Pipeline and Plains GP Holdings LP. PAA GP Holdings is a general partner for Plains GP Holdings, which owns an indirect general partner interest and an indirect limited partner interest in energy pipeline operator Plains All American. Plains AAP is a subsidiary of Plains GP Holdings.