8-KLeadership Changes

MPLX LP 8-K Report, Executive Changes (Mar 9, 2015)

Filed March 9, 2015For Securities:MPLXMPLXP

Summary

MPLX LP (MPLX) announced key leadership changes effective March 3, 2015, aimed at strengthening its executive team. The Board of Directors of MPLX GP LLC was expanded to ten members with the election of Timothy T. Griffith. Concurrently, Donald C. Templin was appointed Executive Vice President of the General Partner, stepping down as the Partnership's Principal Financial Officer but retaining his Board seat. Timothy T. Griffith, with extensive experience in finance and investor relations, was appointed Vice President and Chief Financial Officer of the General Partner, now serving as the Partnership's Principal Financial Officer. John S. Swearingen was appointed Vice President and Chief Operating Officer of the General Partner, becoming the Partnership's Principal Operating Officer, succeeding George P. Shaffner who has moved to an executive position at Marathon Petroleum Corporation (MPC). These officers continue to be compensated by MPC, with Griffith and Swearingen also eligible for MPLX's long-term incentive plan.

Key Highlights

  • 1Timothy T. Griffith appointed Director and Vice President & Chief Financial Officer of the General Partner, becoming MPLX's Principal Financial Officer.
  • 2Donald C. Templin appointed Executive Vice President of the General Partner, stepping down as MPLX's Principal Financial Officer.
  • 3John S. Swearingen appointed Vice President & Chief Operating Officer of the General Partner, becoming MPLX's Principal Operating Officer.
  • 4George P. Shaffner has ceased to serve as MPLX's Principal Operating Officer and has assumed a new role at MPC.
  • 5The Board of Directors of the General Partner was expanded to ten members.
  • 6Key officers (Griffith and Swearingen) are compensated by MPC but eligible for MPLX's long-term incentive plan.
  • 7Griffith's appointment as CFO brings extensive finance, treasury, and investor relations experience, including his role at MPC.

Frequently Asked Questions

MPLX announced the appointment of Timothy T. Griffith as Vice President and Chief Financial Officer of the General Partner, making him the Principal Financial Officer of MPLX. Donald C. Templin was appointed Executive Vice President of the General Partner, and John S. Swearingen was appointed Vice President and Chief Operating Officer of the General Partner, becoming the Principal Operating Officer. George P. Shaffner has stepped down as Principal Operating Officer.

Timothy T. Griffith is the new Vice President and Chief Financial Officer of the General Partner, serving as MPLX's Principal Financial Officer. He brings a strong background in finance, treasury, and investor relations from his previous roles, including at Marathon Petroleum Corporation (MPC).

MPLX itself does not have employees. Officers like Mr. Griffith and Mr. Swearingen are employees of Marathon Petroleum Corporation (MPC), the parent of the General Partner. They receive their primary compensation, including salary and bonuses, from MPC, and are eligible for MPC's benefit plans. They are also eligible to participate in MPLX's long-term incentive compensation plan.

The Board of Directors of MPLX GP LLC was increased to ten members with the election of Timothy T. Griffith. This expansion likely reflects the growing operational needs and complexity of MPLX as it integrates new leadership and potentially prepares for future growth or strategic initiatives.