Marathon Petroleum Corp. names Donald C. Templin president; MPLX LP appoints Michael J. Hennigan president
(Thomson Reuters ONE) -
FINDLAY, Ohio, May 30, 2017 - Marathon Petroleum Corp. (NYSE: MPC) Chairman,
President and CEO Gary R. Heminger today announced changes to the company's
executive team.
Donald C. Templin, president of the general partner of MPLX LP (NYSE: MPLX), has
been named president, Marathon Petroleum Corp., effective July 1. Templin joined
MPC in June 2011, as senior vice president and chief financial officer before
being named executive vice president, Supply, Transportation & Marketing in
March 2015. He was named to his current position of MPLX president in January
2016.
"Don has been an extraordinary asset to MPC and its shareholders since we became
an independent, publicly traded company," said Heminger. "Whether as CFO,
running MPC's operating organizations, or heading MPLX, Don's strategic vision
and business acumen have been integral to our success. We look forward to his
continued leadership as president of MPC."
Templin will continue to serve as a member of the board of directors of the
general partner of MPLX. He will continue to report to Heminger in his new role
and be located in Findlay.
Replacing Templin as president of MPLX's general partner will be Mike Hennigan,
effective June 20. Hennigan comes to the role with 35 years of industry
experience, most recently as President and CEO of Sunoco Logistics Partners L.P.
since 2012.
"We are delighted to welcome Mike to MPLX in his new role as president," said
Heminger. "Mike brings a tremendous depth of experience, having led one of the
most successful growth-oriented master limited partnerships. Mike has
demonstrated outstanding commercial skills as he set the direction, vision, and
strategy while serving as chief executive."
During his 35 years of industry experience, Hennigan has held a variety of
operations and leadership roles with increasing responsibility within Sunoco
Logistics, including executive roles as president and chief operating officer
and vice president of Business Development. At Sunoco Inc., Hennigan also held
the executive role of senior vice president, Supply, Trading, Sales and
Transportation. Hennigan graduated from Drexel University in 1982 with a
bachelor's degree in chemical engineering.
Hennigan will serve as a member of the board of directors of the general partner
of MPLX. He will report to Heminger, who is also chairman and CEO of MPLX's
general partner, and will be located in Findlay.
###
About Marathon Petroleum Corporation
MPC is the nation's third-largest refiner, with a crude oil refining capacity of
approximately 1.8 million barrels per calendar day in its seven-refinery system.
Marathon brand gasoline is sold through approximately 5,500 independently owned
retail outlets across 19 states. In addition, Speedway LLC, an MPC subsidiary,
owns and operates the nation's second-largest convenience store chain, with
approximately 2,730 convenience stores in 21 states. MPC owns, leases or has
ownership interests in approximately 10,800 miles of crude and light product
pipelines and more than 5,600 miles of gas gathering and natural gas liquids
(NGL) pipelines. MPC also has ownership interests in 55 gas processing plants,
14 NGL fractionation facilities and two condensate stabilization facilities.
Through subsidiaries, MPC owns the general partner of MPLX LP, a midstream
master limited partnership. MPC's fully integrated system provides operational
flexibility to move crude oil, NGLs, feedstocks and petroleum-related products
efficiently through the company's distribution network and midstream service
businesses in the Midwest, Northeast, East Coast, Southeast and Gulf Coast
regions.
About MPLX LP
MPLX is a diversified, growth-oriented master limited partnership formed in
2012 by Marathon Petroleum Corporation to own, operate, develop and acquire
midstream energy infrastructure assets. We are engaged in the gathering,
processing and transportation of natural gas; the gathering, transportation,
fractionation, storage and marketing of NGLs; and the transportation, storage
and distribution of crude oil and refined petroleum products. Headquartered in
Findlay, Ohio, MPLX's assets consist of a network of crude oil and products
pipeline assets located in the Midwest and Gulf Coast regions of the United
States; 62 light-product terminals with approximately 24 million barrels of
storage capacity; an inland marine business; storage caverns with approximately
2.8 million barrels of storage capacity; crude oil and product storage
facilities (tank farms) with approximately 5 million barrels of available
storage capacity; a barge dock facility with approximately 78,000 barrels per
day of crude oil and product throughput capacity; and gathering and processing
assets that include more than 5,600 miles of gas gathering and NGL pipelines,
55 gas processing plants, 14 NGL fractionation facilities and two condensate
stabilization facilities.
Investor Relations Contacts:
Lisa Wilson (419) 421-2071
Denice Myers (419) 421-2965
Doug Wendt (419) 421-2423
Media Contacts:
Chuck Rice (419) 421-2521
Jamal Kheiry (419) 421-3312
Templin and Hennigan appointments:
http://hugin.info/155038/R/2108690/800979.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: MPLX LP via GlobeNewswire
Datum: 30.05.2017 - 22:21 Uhr
Sprache: Deutsch
News-ID 545331
Anzahl Zeichen: 6193
contact information:
Town:
FINDLAY
Kategorie:
Business News
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