Sunoco LP names Joe Kim as chief executive officer

DALLAS, 2017-Nov-07 — /EPR Retail News/ — Sunoco LP (NYSE: SUN) (“Sunoco” or the “Partnership”) announced today (Nov. 6, 2017) that Joe Kim has been named chief executive officer of Dallas-based Sunoco LP, effective January 1, 2018. Kim has been serving as president and chief operating officer since June following the announcement that current Chief Executive Officer Bob Owens would retire from the Partnership as of December 31, 2017. Owens will continue to serve as a consultant to the Partnership through 2019.

Prior to his most recent appointment, Kim had been serving as executive vice president and chief development officer for Sunoco from October 2015 to June 2017, where he was responsible for all business development and merger and acquisition activities across the Partnership.  During his service with Sunoco, Kim has provided a wealth of experience and expertise in strategic planning and execution of growth initiatives.

Previously, Kim held the position of chief operating officer at Pizza Hut, where he was responsible for management of all operations, with an emphasis on speed to market and restaurant excellence.  Prior to that, he worked for fifteen years at Valero Energy where his most recent position was senior vice president of strategy and growth. He also held roles in field and franchise operations, strategic planning, merchandising, development and investor relations. He began his career with Arthur Andersen Business Consulting.  Kim is a graduate of Trinity University in San Antonio, Texas with a bachelor’s degree in business administration.

“I would like to extend a heartfelt thank you to Bob for his more than 20 years of service to Sunoco. We are grateful for his strategic leadership and wish him well as he embarks on his new endeavor,” said Matthew S. Ramsey, chairman of the board of Sunoco LP. “Bob is leaving Sunoco in good hands. Joe is an exceptionally talented leader and he is poised to successfully complete the transformation of the Partnership from a retail-based business into the premier U.S. fuel supplier.”

Sunoco LP  (NYSE: SUN) is a master limited partnership that operates 1,346 convenience stores and retail fuel sites and distributes motor fuel to 7,898 convenience stores, independent dealers, commercial customers and distributors located in 30 states.  Our parent — Energy Transfer Equity, L.P. (NYSE: ETE) — owns SUN’s general partner and incentive distribution rights. For more information visit sunocolp.com.

Forward-Looking Statements

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

Contact:

Investors:
Scott Grischow
Senior Director – Investor Relations and Treasury
(214) 840-5660
scott.grischow@sunoco.com

Derek Rabe
CFA
Senior Analyst – Investor Relations and Finance
(214) 840-5553
derek.rabe@sunoco.com

Media:
Alyson Gomez
Director – Communications
(469) 646-1758
alyson.gomez@sunoco.com

SOURCE: Sunoco LP

Sunoco LP president and CEO Robert “Bob” W. Owens to retire; Joe Kim to succeed

Sunoco Executives Cynthia Archer and Boyd Foster Also Retiring

DALLAS, 2017-Jun-24 — /EPR Retail News/ — Sunoco LP (NYSE: SUN) announced today (June 22, 2017) that Robert “Bob” W. Owens, president and chief executive officer has announced his intention to retire from the Partnership as of December 31, 2017, after more than 20 years with Sunoco and its predecessors.  Owens, who joined Sunoco Inc. in 1997, has been serving as president and CEO since 2012.

Effective immediately, Joe Kim, who has been serving as executive vice president and chief development officer for Sunoco since 2015, has been appointed president and chief operating officer.  Owens will continue as CEO until his retirement and will then serve as a consultant to the Partnership through 2019.

Sunoco executives Cynthia Archer, executive vice president and chief marketing officer and Boyd Foster, executive vice president manufacturing and distribution are also retiring from the Partnership effective December 31, 2017.

“We thank Bob for his many years of strategic leadership, which has resulted in an impressive list of accomplishments for both the employees and the unit holders of Sunoco and wish him and his family the best,” said Kelcy Warren, Chairman of Energy Transfer Equity, the entity that owns the general partner of Sunoco. “While we are sad to see Bob go, we are excited for the next generation of leadership at Sunoco to take on larger roles. Joe is an exceptionally talented leader and he has played a significant role in the planned transformation of the Partnership from a retail-based business into a premier nationwide fuel supplier.”

“Additionally, the appointment of Joe as president and COO and Bob continuing as CEO through year-end will ensure an orderly transition as we move through the divestment of our retail operations during the coming months,” added Warren.

Owens joined Sunoco as senior vice president of marketing where he was responsible for Sunoco’s retail network, wholesale marketing and transportation operations, and commercial supply and trading activities for crude oil, refined products, and petrochemicals. Prior to joining Sunoco, he held executive positions with Ultramar Diamond Shamrock Corporation, Amerada Hess Corporation and Mobil Oil Corporation. Owens is a graduate of California Polytechnic State University with a bachelor’s degree in business administration and an MBA from the Kellogg Graduate School of Management at Northwestern University.

Kim has been responsible for the Partnership’s strategic development and planning overseeing both business development and Sunoco’s real estate portfolio. Prior to joining Sunoco, he held various executive positions, including chief operating officer for Pizza Hut and senior vice president- retail strategy and growth for Valero Energy.  Kim began his career with Arthur Andersen.  He is a graduate of Trinity University with a bachelor’s degree in business administration.

Sunoco LP  (NYSE: SUN) is a master limited partnership that operates 1,355 convenience stores and retail fuel sites and distributes motor fuel to 7,825 convenience stores, independent dealers, commercial customers and distributors located in 30 states. SUN’s general partner is a wholly owned subsidiary of Energy Transfer Equity, L.P. (NYSE: ETE). For more information visit sunocolp.com.

Energy Transfer Equity, L.P. (NYSE: ETE) is a master limited partnership that owns the general partner and 100% of the incentive distribution rights (IDRs) of Sunoco LP. For more information visit energytransfer.com.

Cautionary Statement Relevant to Forward-Looking Information

This press release includes forward-looking statements regarding future events. These forward-looking statements are based on SUN’s current plans and expectations and involve a numbers of risks and uncertainties that could cause actual results and events to vary materially from the results and events anticipated or implied by such forward-looking statements. For a further discussion of these risks and uncertainties, please refer to the “Risk Factors” section of SUN’s most recently filed annual report on Form 10-K and in other filings made by SUN with the Securities and Exchange Commission. While Sunoco may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, even if new information becomes available.

Investors:
Scott Grischow
Senior Director – Investor Relations and Treasury
(214) 840-5660
scott.grischow@sunoco.com

Patrick Graham
Senior Analyst – Investor Relations and Finance
(214) 840-5678
patrick.graham@sunoco.com

Media:
Alyson Gomez
Director – Communications
(469) 646-1758
alyson.gomez@sunoco.com

Energy Transfer
Investor Relations:
Helen Ryoo, Lyndsay Hannah, Brent Ratliff
214-981-0795

Media Relations:
Vicki Granado
214-840-5820

SOURCE: Sunoco LP