DALLAS, June 22, 2017 /PRNewswire/ -- Sunoco LP (NYSE:
SUN) announced today 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.
Sunoco LP
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
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SOURCE Sunoco LP