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Cleco board members resign; replacements elected

Mark Fay and Recep Kendircioglu resigned from the boards of managers of Cleco Corporate Holdings LLC and Cleco Power LLC on May 31.

Fay served as chair of the asset management committee and on the business planning and budget review committee. Kendircioglu served on the asset management committee. There were no conflicts between the management and Fay and Kendircioglu, according to a June 5 filing.

Macquarie Infrastructure Partners Inc. elected Aaron Rubin and Thomas Macfayden as the new members of the boards on both subsidiaries of Cleco Partners LP, effective the same day, while John Hancock Financial Corp. elected Gerald Hanrahan.

Rubin will serve on the business planning & budget review committee. Macfayden will serve as chair of the asset management committee and Hanrahan will also serve on the asset management committee.

Under the governance arrangements contained in the organizational agreements of Cleco Corporate Holdings, Cleco Power and Cleco Partners, entities managed by each of Macquarie, British Columbia Investment Management Corp. and John Hancock have the right to designate certain managers to the boards of Cleco Corporate Holdings and Cleco Power.