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.