Duncan Energy Partners (DEP: chart, web, Y!) chairman Dan Duncan passed away in his home on Sunday night.

Duncan was no spring chicken, but in recent interviews, he really didn’t show any signs of, well…. decline.

The company indicated that it does not intend to change ownership or management of the partnerships, but it does leave the average DEP stockholder to question how the interests of the partnership going forward will be aligned with shareholders.

Ideally, you want all parties interests to be aligned.  If the CEO holds 50% of the shares and depends on the value of those shares appreciating in value, as a smaller stakes shareholder, you can feel somewhat secure that he’ll strive to create growth and value in the company to keep the value of the shares going up.  In essence, your general interests in the company are aligned.

Now that Duncan isn’t around, it will be interesting to see how interests of all parties line up.

Investing Dan Duncan, DEP