SUNOCO LP (NYSE:SUN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Departure of Director
On December 31, 2017, Sunoco GP LLC (the “Company”), the general partner of Sunoco LP (the “Partnership”), received the resignation of Robert W. Owens from the board of directors of the Company (the “Board of Directors”), effective as of December 31, 2017. Mr. Owens’ resignation was not the result of any disagreement with the Partnership or the Company relating to the operations, practices or policies of the Partnership or the Company and is aligned with his previously announced retirement as Chief Executive Officer of the Company, effective December 31, 2017.
Appointment of Director
On January 3, 2018, Joseph Kim, the Company’s President and Chief Executive Officer, was appointed to the Board of Directors by the sole member of the Company to the provisions of the Amended and Restated Limited Liability Company Agreement of the Company dated September25, 2012, as amended.
There are no arrangements or understandings with the Partnership, or any other persons, to which Mr.Kim was appointed to the Board of Directors. There are no relationships regarding Mr.Kim that would require disclosure to Item404(a) of Regulation S-K.
About SUNOCO LP (NYSE:SUN)
Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the retail sale of motor fuels and merchandise through the Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail. The Wholesale operations segment sells motor fuel to its retail segment and external customers. The Retail operations segment operates convenience stores selling a range of merchandise, food items, services and motor fuel. It operates over 900 convenience stores and fuel outlets in over eight states. It distributes over 7.6 billion gallons of motor fuel through its convenience stores and consignment locations, contracted independent convenience store operators, and other commercial customers. Its retail convenience stores operate under brands, including Stripes and Aloha Island Mart.
