Summary
MPLX LP (MPLX) announced a change in its principal financial officer on October 4, 2016. Nancy K. Buese resigned from her position as principal financial officer to accept a role with another company. Effective October 6, 2016, the board of directors of MPLX GP LLC appointed Pamela K.M. Beall as the new Executive Vice President and Chief Financial Officer of the General Partner, making her the principal financial officer of MPLX LP. Ms. Beall brings a wealth of experience to the role, having held various senior positions within Marathon Petroleum Corporation (MPC), MPLX's parent company, since 2002, and prior roles with Marathon Oil Company and USX Corporation. Notably, she has served as President of the General Partner since January 2014 and was previously Executive Vice President of Corporate Planning and Strategy. Her extensive background in finance, planning, and operations, along with her continued eligibility for compensation and benefits from MPC and MPLX, positions her well for this transition.
Key Highlights
- 1Nancy K. Buese has resigned as the Principal Financial Officer of MPLX LP, effective October 6, 2016.
- 2Pamela K.M. Beall has been appointed as the new Executive Vice President and Chief Financial Officer of MPLX GP LLC, serving as the Principal Financial Officer of MPLX LP.
- 3Ms. Beall has a strong background with Marathon Petroleum Corporation (MPC), the parent of MPLX's General Partner, with extensive experience in finance and strategy.
- 4Ms. Beall will continue to hold her position on the board of directors of the General Partner.
- 5MPLX LP and its subsidiaries do not have employees; all personnel, including executive officers, are provided by MPC.
- 6Ms. Beall remains eligible for compensation and benefits through MPC and is also eligible for MPLX's long-term incentive compensation plan.