When is the retirement effective?

The retirement is effective October 31, 2016.

Will Mr. Semple be completely leaving the company and its affiliates?

No, Mr. Semple will remain on the MPLX GP LLC board of directors and will also continue to serve on the board of directors of the Partnership’s sponsor, Marathon Petroleum Corporation.

What is the significance of this announcement for investors?

This announcement pertains to a key leadership change. Investors should note that while an executive position is being vacated, the individual will retain board-level involvement with both MPLX and its sponsor, suggesting a continued, albeit non-executive, influence and stability.

MPLX/MPLXP 8-K SEC Disclosure

Q: Who is retiring and from what role?

Frank M. Semple is retiring from his executive officer role as Vice Chairman of MPLX GP LLC, the general partner of MPLX LP.

Summary

This 8-K filing from MPLX LP reports on the upcoming retirement of Frank M. Semple from his executive officer role as Vice Chairman of MPLX GP LLC, effective October 31, 2016. While stepping down from his executive duties, Mr. Semple will maintain a significant presence by remaining on the MPLX GP LLC board of directors and continuing his service on the board of MPLX's sponsor, Marathon Petroleum Corporation. This transition indicates a planned succession within the MLP's leadership structure.

Key Highlights

1Frank M. Semple, Vice Chairman of MPLX GP LLC, will retire from his executive officer position.
2Retirement effective date is October 31, 2016.
3Mr. Semple will continue to serve on the MPLX GP LLC board of directors.
4Mr. Semple will also remain on the board of directors for MPLX's sponsor, Marathon Petroleum Corporation.
5The filing signifies a planned leadership transition within MPLX.

MPLX LP 8-K Report, Corporate Update (Aug 1, 2016)

Summary

Key Highlights

Frequently Asked Questions