8-KLeadership Changes

MPLX LP 8-K Report, Executive Changes (Dec 23, 2015)

Filed December 23, 2015For Securities:MPLXMPLXP

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.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce a change in the leadership of MPLX GP LLC, the general partner of MPLX LP. Specifically, it announces the appointment of Donald C. Templin as the new President and the departure of Pamela K. M. Beall from that role.

Donald C. Templin is a seasoned executive with significant experience in the energy and finance sectors. He has been with MPLX GP LLC since 2012, serving as CFO and a board member, and as Executive Vice President since March 2015. Prior to MPLX, he held senior positions at Marathon Petroleum Corporation (MPC) and had a long career in public accounting with PricewaterhouseCoopers LLP.

No, Pamela K. M. Beall is not leaving MPLX. While she will cease to serve as President of the General Partner, she will continue to serve on the board of directors of the General Partner and will remain as Executive Vice President, Corporate Planning and Strategy.

MPLX LP and its subsidiaries do not directly employ staff. All personnel, including executive officers, are provided by Marathon Petroleum Corporation (MPC) under a contractual agreement, and MPLX compensates MPC for these services. Donald C. Templin will also hold an Executive Vice President role at MPC.