Dakota Plains Holdings Inc. (NYSE MKT: DAKP) appointed William DeRosa to its board of directors, the company said July 22.
DeRosa came to Dakota Plains from Lone Star Value Management LLC, which owns 3.5 million of Dakota Plains’ common stock, the company added.
DeRosa had been director of research at Lone Star Value since April, Dakota Plains said. He also worked at Evanston, Ill.-based Magnetar Capital as a senior analyst on its special situations equity team, the company added. He also worked at Tudor Investment Management and New York-based Soros Fund Management LLC, the company said.
“We are very pleased to welcome William DeRosa to the board at this exciting time for Dakota Plains,” said Craig McKenzie, chairman and CEO.
“Bill’s experience in the capital markets and at Lone Star Value, a fund that specializes in enhancing stockholder value, will enable him to be a strong contributor to the Dakota Plains board of directors,” he added.
“Due to the significant growth of oil and gas production in the Bakken and Three Forks region, transloading assets are becoming critical components of midstream infrastructure. Dakota Plains has built a premier transloading facility that has significant scalability and offers diversification through a unique inbound business,” said Jeff Eberwein, Lone Star Value’s founder and CEO.
“The company will be well-served to focus on this core asset, and Bill DeRosa will provide valuable insight in the boardroom as the company works towards this goal and the goal of creating value for all stockholders,” Eberwein added.
DeRosa has a bachelor’s degree from Hamilton College and an MBA from Cornell University’s S.C. Johnson School of Management, Dakota Plains said.
Wayzata, Minn.-based Dakota Plains Holdings Inc. is a domestic-focused midstream company.
Lone Star Value Management LLC is based in Old Greenwich, Conn.