Martin Midstream Partners L.P. Announces Executive Leadership Changes
October 22 2020 - 8:15AM
Martin Midstream Partners L.P. (NASDAQ: MMLP) (the “Partnership”)
announced today that Robert D. Bondurant (“Bob”) has been appointed
President and Chief Executive Officer effective January 1, 2021.
The Partnership’s founder, Ruben Martin has decided to retire as
President and Chief Executive Officer of the Partnership on
December 31, 2020, but will remain as Chairman of the Board of the
Partnership’s general partner and will continue to be actively
involved in business development for the Partnership.
The Partnership was formed in 2002 by Martin Resource Management
Corporation (“MRMC”), a privately-held company that was founded by
R.S. Martin, Ruben Martin’s father. Mr. Martin has served as
President, Chief Executive Officer and a member of the Board of
Directors of the Partnership’s general partner since that time. Mr.
Martin will continue as President of MRMC, a position he has held
since 1981.
Mr. Bondurant joined MRMC in 1983 and subsequently was appointed
Executive Vice President and Chief Financial Officer of the
Partnership in June 2002. He became a member of its Board of
Directors in 2014.
Director Scott Massey said, “On behalf of the Board of
Directors, we want to thank Ruben for his leadership and direction
through the years. We wish him the best as he moves out of the day
to day management of the Partnership, and into retirement to focus
on family, community and charitable activities. The appointment of
Bob as his successor shows the support the Board has in Bob’s
vision for the Partnership’s future, the acknowledgment of his
contributions through the years and the confidence in his
leadership.”
Additionally, the Partnership announced today that Sharon Taylor
has been appointed as Vice President and Chief Financial Officer
effective January 1, 2021. Ms. Taylor joined the Partnership in
2005 and most recently served as its Director of Finance and Head
of Investor Relations.
About Martin Midstream Partners
Martin Midstream Partners L.P. is a publicly traded limited
partnership with a diverse set of operations focused primarily in
the United States Gulf Coast region. The Partnership's primary
business lines include: (1) terminalling, processing, storage, and
packaging services for petroleum products and by-products; (2) land
and marine transportation services for petroleum products and
by-products, chemicals, and specialty products; (3) sulfur and
sulfur-based products processing, manufacturing, marketing and
distribution; and (4) natural gas liquids marketing, distribution,
and transportation services.
Forward-Looking Statements
Statements about the Partnership’s outlook, the proposed
management changes and all other statements in this release other
than historical facts are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements and all references to financial
and operational estimates rely on a number of assumptions
concerning future events and are subject to a number of
uncertainties, including (i) the current and potential impacts of
the COVID-19 pandemic generally, on an industry-specific basis, and
on the Partnership’s specific operations and business, (ii) the
effects of the continued volatility of commodity prices and the
related macroeconomic and political environment, and (iii) other
factors, many of which are outside its control, which could cause
actual results to differ materially from such statements. While the
Partnership believes that the assumptions concerning future events
are reasonable, it cautions that there are inherent difficulties in
anticipating or predicting certain important factors. A discussion
of these factors, including risks and uncertainties, is set forth
in the Partnership’s annual and quarterly reports filed from time
to time with the Securities and Exchange Commission (the “SEC”).
The Partnership disclaims any intention or obligation to revise any
forward-looking statements, including financial estimates, whether
as a result of new information, future events, or otherwise except
where required to do so by law.
The information in the Partnership’s website is not, and shall
not be deemed to be, a part of this notice or incorporated in
filings the Partnership makes with the SEC.
Additional information concerning the Partnership is available
on the Partnership’s website at www.MMLP.com or by contacting:
Sharon Taylor – Head of Investor Relations(877) 256-6644
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