- Maryann Mannen elected President
and CEO
- Mike Hennigan to transition to
Executive Chairman of the Board of Directors
FINDLAY,
Ohio, May 13, 2024 /PRNewswire/ -- MPLX LP
(NYSE: MPLX) today announced its leadership transition plan,
effective August 1, 2024. At that
time, Maryann T. Mannen, President
of Marathon Petroleum Corporation (NYSE: MPC), will succeed
Michael J. Hennigan as President and
Chief Executive Officer of MPLX GP LLC, the general partner of
MPLX. Mannen will continue to serve on the Board of Directors of
the general partner of MPLX, and Hennigan will assume the role of
Executive Chairman of the Board. Christopher A. Helms will continue as the
Board's independent Lead Director.
Hennigan has led the general partner of MPLX as Chairman of the
Board of Directors since April 2020,
as CEO since November 2019, and as
President since June 2017. Mannen has
served as a member of the Board of Directors since February 2021. Helms has been independent Lead
Director of the Board since May 2023,
having served as a member of the Board since 2012.
"On behalf of the Board of Directors, I want to express my
confidence in Maryann to lead MPLX as CEO," said Hennigan. "Maryann
has been an invaluable contributor to the success of the
partnership, and I could not be more pleased for unitholders."
During Hennigan's leadership as CEO, MPLX's accomplishments
include:
- Return of approximately $15
billion to MPLX unitholders through distributions and unit
repurchases, for total unitholder return, with distributions
reinvested, of 589% since March 2020;
and
- Significant growth of the business, including expansion in the
Marcellus, Utica and Permian
basins.
"MPLX is well positioned to advance our growth strategy and our
disciplined approach to capital allocation," said Mannen. "I look
forward to building on the momentum we've created as we continue
safely delivering the fuels the world needs."
Also announced today and effective August
1, 2024, Mannen will lead MPC as its President and CEO, and
Hennigan will serve as its Executive Chairman.
About Maryann
Mannen
Mannen has served as a member of the Board of
Directors of the general partner of MPLX since February 2021. She was elected MPC President
effective January 2024, having
previously served as Executive Vice President and Chief Financial
Officer since January 2021. Before
joining MPC, Mannen served as Executive Vice President and Chief
Financial Officer of TechnipFMC (a successor to FMC Technologies,
Inc.), a leading global engineering services and energy technology
company, since 2017. She previously served as Executive Vice
President and Chief Financial Officer of FMC Technologies, Inc.
since 2014, as Senior Vice President and Chief Financial Officer
since 2011, and in various positions of increasing responsibility
with FMC Technologies, Inc. since 1986. Mannen also serves on the
board of directors of Owens Corning, an insulation, roofing and
fiberglass composites company.
About Mike
Hennigan
Hennigan was elected MPLX CEO in
November 2019 and President in
June 2017. He has served as Chairman
of the Board of Directors of the general partner of MPLX since
April 2020. In addition, Hennigan was
elected MPC CEO in March 2020 and has
served as a member of the MPC Board of Directors since April 2020. Before joining the general partner of
MPLX LP, Hennigan was President, Crude, NGL and Refined Products of
the general partner of Energy Transfer Partners L.P. He was
President and Chief Executive Officer of Sunoco Logistics Partners
L.P. from 2012 to 2017, President and Chief Operating Officer
beginning in 2010, and Vice President, Business Development,
beginning in 2009. Hennigan also serves on the board of directors
of Nutrien, a Canadian agricultural services company.
About Chris Helms
Helms
was elected Lead Director of the MPLX GP LLC Board of Directors
effective May 2023, having served as
a director since 2012. From 2005 until his retirement in 2011,
Helms served in various capacities with NiSource Inc. and its
affiliate, NiSource Gas Transmission and Storage, including as
Executive Vice President and Group Chief Executive Officer. Prior
to joining NiSource, Helms held senior executive positions with
various energy companies.
About MPLX LP
MPLX is a diversified, large-cap master limited partnership that
owns and operates midstream energy infrastructure and logistics
assets, and provides fuels distribution services. MPLX's assets
include a network of crude oil and refined product pipelines; an
inland marine business; light-product terminals; storage caverns;
refinery tanks, docks, loading racks, and associated piping; and
crude and light-product marine terminals. The company also owns
crude oil and natural gas gathering systems and pipelines as well
as natural gas and NGL processing and fractionation facilities in
key U.S. supply basins. More information is available at
www.MPLX.com.
Investor Relations Contacts: (419)
421-2071
Kristina Kazarian,
Vice President Finance and Investor Relations
Brian Worthington, Director,
Investor Relations
Isaac Feeney, Supervisor, Investor
Relations
Media Contact: (419) 421-3577
Jamal Kheiry,
Communications Manager
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SOURCE MPLX LP
