LISLE, Ill., Nov. 10, 2017 /PRNewswire/ -- SunCoke Energy
Partners GP LLC, the general partner of SunCoke Energy Partners,
L.P. (NYSE: SXCP), announced today that Frederick A. Henderson has decided to retire as
Chairman, Chief Executive Officer and President, and that
Michael G. Rippey has been appointed
as Chairman, Chief Executive Officer and President, effective
December 1, 2017. Mr. Rippey,
who is currently serving as a Senior Advisor to Nippon Steel &
Sumitomo Metal Corporation and was previously Chairman of
ArcelorMittal USA, also has been
appointed as Chief Executive Officer, President and a director of
SunCoke Energy, Inc. (NYSE: SXC).
"It has been a privilege to serve as President, CEO and
Chairman, leading SXCP through its IPO, building sustainable
profitability in our core coke production business, diversifying
our revenues and customer base into a profitable logistics
business, and using cash flow judiciously to benefit unitholders,"
said Mr. Henderson. "Mike is a proven and successful leader
with a strong execution orientation, and I believe that now is the
right time for him to take charge at SXCP. Mike's reputation
for strategic and tactical direction and managing a major
manufacturing enterprise speaks for itself. In addition, he
has a keen understanding of the steel industry and how SXCP can
best serve its customers."
Commenting on his new appointment, Mr. Rippey said, "SXCP has an
attractive value proposition supported by SunCoke's
industry-leading cokemaking technology and a promising portfolio of
strategically located logistics assets. I look forward to
joining the SunCoke leadership team and all of its dedicated
employees as we focus on execution and delivering value for SXCP
unitholders."
Michael G. Rippey Biography
A financially astute
leader and veteran steel industry executive, Mr. Rippey, 60, has
overseen operations of some of the largest and most capital
intensive assets in the world. He joins SXCP most recently
from Nippon Steel & Sumitomo Metal Corporation (a leading
global steelmaker), where, since 2015, he has served as Senior
Advisor. From 2014 to 2015, he served as Chairman of the
Board of ArcelorMittal USA (a
major domestic steel manufacturer), and from August 2006 through October 2014, he was ArcelorMittal USA's President and Chief Executive
Officer. Prior to that, he successfully rose through
progressively responsible financial, commercial and administrative
leadership roles at ArcelorMittal USA and its predecessor companies.
Mr. Rippey is an accomplished senior executive with a wealth of
finance, sales, operations and management experience in the metals
industry. He has successfully dealt with dynamic and
challenging business environments and, as a past executive officer
and Chairman of ArcelorMittal USA,
he has an intimate knowledge and understanding of the challenges
and opportunities facing SXCP as it continues to serve the steel
industry.
Mr. Rippey earned a Bachelor of Science in Marketing from
Indiana University, Bloomington, IN, a
Master of Science in Banking and Finance from Loyola University, Chicago, IL, and a Master of
Business Administration from The University of
Chicago. Mr. Rippey currently serves on the Board of
Directors of Olympic Steel, Inc., a $1.1
billion steel service center headquartered in Ohio, where he is a member of the Nominating
Committee, the Compensation Committee and the Audit and Compliance
Committee.
ABOUT SUNCOKE ENERGY PARTNERS, L.P.
SunCoke Energy
Partners, L.P. (NYSE: SXCP) and its sponsor, SunCoke Energy, Inc.
(NYSE: SXC), supply high-quality coke used in the blast furnace
production of steel, under long-term, take-or-pay contracts that
pass through commodity and certain operating costs to
customers. We utilize an innovative heat-recovery technology
that captures excess heat for steam or electrical power
generation. SXC and SXCP have more than 50 years of
cokemaking experience serving the integrated steel industry, and
maintain cokemaking facilities located in Illinois, Indiana, Ohio, Virginia, Brazil and India. SXCP provides export
and domestic coal handling services to the coke, coal, steel and
power industries. Our coal handling terminals have the
collective capacity to blend and transload more than 35 million
tons of coal each year and are strategically located to reach
Gulf Coast, East Coast, Great Lakes and
international ports. To learn more about SunCoke Energy
Partners, L.P., visit our website at www.suncoke.com.
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SOURCE SunCoke Energy Partners, L.P.