DALLAS, June 22, 2017 /PRNewswire/ -- Sunoco LP
(NYSE: SUN) announced today that Robert "Bob" W. Owens, president
and chief executive officer has announced his intention to retire
from the Partnership as of December 31,
2017, after more than 20 years with Sunoco and its
predecessors. Owens, who joined Sunoco Inc. in 1997, has been
serving as president and CEO since 2012.
Effective immediately, Joe Kim,
who has been serving as executive vice president and chief
development officer for Sunoco since 2015, has been appointed
president and chief operating officer. Owens will continue as
CEO until his retirement and will then serve as a consultant to the
Partnership through 2019.
Sunoco executives Cynthia Archer,
executive vice president and chief marketing officer and
Boyd Foster, executive vice
president manufacturing and distribution are also retiring from the
Partnership effective December 31,
2017.
"We thank Bob for his many years of strategic leadership, which
has resulted in an impressive list of accomplishments for both the
employees and the unit holders of Sunoco and wish him and his
family the best," said Kelcy Warren,
Chairman of Energy Transfer Equity, the entity that owns the
general partner of Sunoco. "While we are sad to see Bob go, we are
excited for the next generation of leadership at Sunoco to take on
larger roles. Joe is an exceptionally talented leader and he has
played a significant role in the planned transformation of the
Partnership from a retail-based business into a premier nationwide
fuel supplier."
"Additionally, the appointment of Joe as president and COO and
Bob continuing as CEO through year-end will ensure an orderly
transition as we move through the divestment of our retail
operations during the coming months," added Warren.
Owens joined Sunoco as senior vice president of marketing where
he was responsible for Sunoco's retail network, wholesale marketing
and transportation operations, and commercial supply and trading
activities for crude oil, refined products, and petrochemicals.
Prior to joining Sunoco, he held executive positions with Ultramar
Diamond Shamrock Corporation, Amerada Hess Corporation and Mobil
Oil Corporation. Owens is a graduate of California Polytechnic
State University with a bachelor's degree in business
administration and an MBA from the Kellogg Graduate School of
Management at Northwestern
University.
Kim has been responsible for the Partnership's strategic
development and planning overseeing both business development and
Sunoco's real estate portfolio. Prior to joining Sunoco, he held
various executive positions, including chief operating officer for
Pizza Hut and senior vice president- retail strategy and growth for
Valero Energy. Kim began his career with Arthur
Andersen. He is a graduate of Trinity
University with a bachelor's degree in business
administration.
Sunoco LP (NYSE: SUN) is a master limited
partnership that operates 1,355 convenience stores and retail fuel
sites and distributes motor fuel to 7,825 convenience stores,
independent dealers, commercial customers and distributors located
in 30 states. SUN's general partner is a wholly owned subsidiary of
Energy Transfer Equity, L.P. (NYSE: ETE). For more information
visit sunocolp.com.
Energy Transfer Equity, L.P. (NYSE: ETE) is a master
limited partnership that owns the general partner and 100% of the
incentive distribution rights (IDRs) of Sunoco LP. For more
information visit energytransfer.com.
Cautionary Statement Relevant to Forward-Looking
Information
This press release includes forward-looking statements regarding
future events. These forward-looking statements are based on SUN's
current plans and expectations and involve a numbers of risks and
uncertainties that could cause actual results and events to vary
materially from the results and events anticipated or implied by
such forward-looking statements. For a further discussion of these
risks and uncertainties, please refer to the "Risk Factors" section
of SUN's most recently filed annual report on Form 10-K and in
other filings made by SUN with the Securities and Exchange
Commission. While Sunoco may elect to update these forward-looking
statements at some point in the future, it specifically disclaims
any obligation to do so, even if new information becomes
available.
Sunoco LP
Investors:
Scott Grischow, Senior Director –
Investor Relations and Treasury
(214) 840-5660, scott.grischow@sunoco.com
Patrick Graham, Senior Analyst –
Investor Relations and Finance
(214) 840-5678, patrick.graham@sunoco.com
Media:
Alyson Gomez, Director –
Communications
(469) 646-1758, alyson.gomez@sunoco.com
Energy Transfer
Investor Relations:
Helen Ryoo, Lyndsay Hannah, Brent
Ratliff, 214-981-0795
Media Relations:
Vicki Granado, 214-840-5820
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sunoco-lp-announces-bob-owens-president-and-chief-executive-officer-to-retire-joe-kim-named-president-and-coo-300478711.html
SOURCE Sunoco LP