Summary
MPLX LP's 8-K filing on June 5, 2017, announced a significant leadership change within its general partner. Michael J. Hennigan has been appointed as President of MPLX GP LLC and elected to the board of directors, effective June 20, 2017. Mr. Hennigan brings extensive experience in crude, NGL, and refined products, having previously held senior leadership roles at Energy Transfer Partners and Sunoco Logistics Partners. This appointment is expected to leverage his 35 years of industry expertise for the benefit of MPLX. Concurrently, Donald C. Templin will step down as President of the General Partner, effective June 20, 2017, but will continue to serve on the board. Mr. Templin will assume a new role as President of Marathon Petroleum Corporation (MPC) starting July 1, 2017. It's important to note that MPLX, like its subsidiaries, does not have employees; all operational personnel, including Mr. Hennigan, are provided by MPC under a contractual agreement. Mr. Hennigan's compensation and benefits will be managed by MPC, with eligibility for MPLX's long-term incentive plan.
Key Highlights
- 1Michael J. Hennigan appointed President of MPLX GP LLC, effective June 20, 2017.
- 2Michael J. Hennigan elected to the Board of Directors of MPLX GP LLC, effective June 20, 2017.
- 3Hennigan brings 35 years of industry experience, including leadership roles at Energy Transfer Partners and Sunoco Logistics Partners.
- 4Donald C. Templin to cease as President of MPLX GP LLC, effective June 20, 2017.
- 5Donald C. Templin will continue to serve on the Board of Directors of MPLX GP LLC.
- 6Donald C. Templin appointed President of Marathon Petroleum Corporation (MPC), effective July 1, 2017.
- 7All MPLX operational employees and officers are provided by MPC under a contractual agreement.