8-KLeadership Changes

MPLX LP 8-K Report, Executive Changes (Oct 3, 2018)

Filed October 3, 2018For Securities:MPLXMPLXP

Summary

This 8-K filing by MPLX LP (MPLX) on October 3, 2018, primarily details a change to its Board of Directors following the significant corporate event involving its parent company, Marathon Petroleum Corporation (MPC). Specifically, following MPC's completion of its acquisition of Andeavor, MPLX's General Partner appointed Gregory J. Goff to its Board of Directors. Mr. Goff brings extensive experience, having formerly held leadership positions at Andeavor. His appointment is a direct consequence of the broader MPC-Andeavor transaction and is noteworthy for investors tracking potential strategic realignments or synergies within the MPC/MPLX ecosystem. Importantly, Mr. Goff will not receive separate compensation for his director role, as he concurrently serves as Executive Vice Chairman of MPC.

Key Highlights

  • 1MPLX LP's General Partner appointed Gregory J. Goff to its Board of Directors.
  • 2The appointment of Mr. Goff is a result of Marathon Petroleum Corporation's (MPC) acquisition of Andeavor.
  • 3Gregory J. Goff is the former Chairman, President and Chief Executive Officer of Andeavor.
  • 4Mr. Goff currently serves as Executive Vice Chairman of MPC.
  • 5Mr. Goff will not receive separate compensation for his services as a director of MPLX's General Partner.
  • 6Mr. Goff is not expected to serve on any standing committees of the Board.

Frequently Asked Questions

The main event is the appointment of Gregory J. Goff to the Board of Directors of MPLX LP's General Partner, following the acquisition of Andeavor by MPLX's parent company, Marathon Petroleum Corporation (MPC).

Gregory J. Goff is the former Chairman, President and Chief Executive Officer of Andeavor and previously held similar roles at Andeavor Logistics LP. He is also currently the Executive Vice Chairman of Marathon Petroleum Corporation (MPC).

No, Mr. Goff will not receive separate compensation for his services as a director of MPLX's General Partner, as he is already compensated in his role as Executive Vice Chairman of MPC.

The appointment is a direct consequence of MPC's successful acquisition of Andeavor. Mr. Goff's addition to the MPLX board reflects his significant leadership role within the newly combined MPC entity.