Sunoco LP announced 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.
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.