Marathon Petroleum Corp. and MPLX LP announce executive retirement
March 15 2017 - 6:49AM
FINDLAY, Ohio, March 15, 2017 - Marathon Petroleum
Corporation (NYSE: MPC) and MPLX LP (NYSE: MPLX) today announced
the retirement of Randy S. Nickerson, executive vice president,
Corporate Strategy, MPC, and executive vice president and chief
commercial officer, MarkWest assets, of the general partner of
MPLX, effective April 1, 2017. Following his retirement, Nickerson
intends to serve in a consulting/advisory role to MPC and
MPLX.
"After nearly 35 years in the energy industry, Randy has elected to
retire in part to pursue his philanthropic passions," said Gary R.
Heminger, MPC chairman, president and chief executive officer.
"We are grateful he deferred his previously announced
retirement from MarkWest by more than 18 months to help create and
realize the significant commercial synergies arising from the
strategic combination of MPC, MPLX and MarkWest," Heminger added.
"His commitment to customer satisfaction and his vision for
creating industry solutions are unsurpassed and we are thankful for
his dedication and service."
Nickerson joined MarkWest Hydrocarbon in 1995 as manager, new
projects and was named general manager, Michigan business unit in
1996. He was appointed vice president and general manager of the
Appalachia business unit in 1997. Nickerson was named senior vice
president in 2001, and was in this position when MarkWest Energy
Partners was formed in 2002. In 2003, he was named senior vice
president, corporate development, and in 2006 was named chief
commercial officer. Nickerson joined MPC in 2015, when MarkWest
became a subsidiary of MPLX.
"Throughout the last year, Randy has worked diligently to develop
and extend arrangements with some of our largest producer
customers, positioning us for success well into the future," said
Donald C. Templin, president of MPLX's general partner. "We thank
Randy for his many years of leadership and his tremendous
contributions to MarkWest and MPLX."
###
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 8,400 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 54
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 (MPC) 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 and storage of crude oil
and refined petroleum products. Headquartered in Findlay, Ohio,
MPLX's assets consist of a network of common carrier crude oil and
refined products pipeline assets located in the Midwest and Gulf
Coast regions of the United States; an inland marine business;
light-product terminals; a butane storage cavern located in West
Virginia with approximately 1 million barrels of storage capacity
and eight natural gas liquids storage caverns in Woodhaven,
Michigan; crude oil and product storage facilities (tank farms); a
crude oil truck unloading facility at MPC's refinery in Canton,
Ohio; 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, 54 gas processing plants, 14 NGL
fractionation facilities and two condensate stabilization
facilities.
Media Contacts:
Chuck Rice
(419) 421-2521
Stefanie Griffith (419) 421-4327
Investor Relations Contacts:
Lisa D. Wilson (419) 421-2071
Denice Myers (419) 421-2965
Doug Wendt (419) 421-2423
Nickerson retirement
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: Marathon Petroleum Corporation via
Globenewswire
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