KKR & Co's Marc Lipschultz has resigned from the board of directors of Energy Future Holdings (EFH), the embattled power giant taken private by KKR and others in a massive 2007 leveraged buyout, Reuters reported on Friday. In a U.S. Securities & Exchange Commission filing on Friday, EFH said Lipschultz notified the board on Jan. 17 of his resignation "effective immediately." Two other KKR representatives, Jonathan Smidt and Brandon Freiman, remain as members of EFH's 13-member board. EFH for months has been trying to restructure about $40 billion in debt with various classes of creditors. The company may face bankruptcy, though it is in the midst of negotiations with creditors on a consensual restructuring.
