Summary
This 8-K filing by MPLX LP (MPLX) on December 22, 2015, announces a significant leadership transition within its general partner. Effective January 1, 2016, Donald C. Templin has been appointed as the new president of MPLX GP LLC. Mr. Templin brings a wealth of experience, having served as executive vice president of MPLX GP LLC since March 2015 and previously as its vice president, chief financial officer, and a board member since June 2012. His prior roles at Marathon Petroleum Corporation (MPC), including executive vice president of supply, transportation and marketing, and his extensive background in public accounting with PricewaterhouseCoopers LLP, provide him with a strong foundation for this leadership role. This appointment signifies a shift in operational leadership, with current president Pamela K. M. Beall stepping down from that specific role while retaining her board membership and executive vice president position focused on corporate planning and strategy. The filing also clarifies that all other executive officers of the General Partner will now report to Mr. Templin. Notably, MPLX does not directly employ staff; all personnel, including executives, are provided by MPC under a contractual agreement, with Mr. Templin also assuming an executive vice president role at MPC and his compensation structured through MPC with additional participation in MPLX's long-term incentive plan.
Key Highlights
- 1Donald C. Templin appointed President of MPLX GP LLC, effective January 1, 2016.
- 2Mr. Templin has prior experience within MPLX as Executive Vice President and previously as CFO and board member.
- 3Mr. Templin brings extensive experience from Marathon Petroleum Corporation (MPC) and a background in public accounting.
- 4Pamela K. M. Beall will cease to be President but will remain on the board and as Executive Vice President of Corporate Planning and Strategy.
- 5All executive officers will now report to the new President, Donald C. Templin.
- 6Employees and executives are contracted from MPC, with Mr. Templin also taking on an EVP role at MPC.
- 7Mr. Templin's compensation is primarily through MPC, with eligibility for MPLX's long-term incentive plan.