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Sunoco Inc. yesterday announced a series of organizational changes designed to compliment the company's growth strategy by realigning its business structure.
John Drosdick, chairman and CEO of the Philadelphia-based company, linked the changes to Sunoco's plans to form a master limited partnership (MLP) for a substantial portion of its pipelines, terminals, and other logistics assets. Sunoco, a manufacturer and marketer of petroleum products, operates a branded network of more than 4,100 stores nationwide and has a refinery capacity of 730,000 barrels per day.
"The changes will help Sunoco operate at its full potential," Drosdick said. "Sunoco will have four distinct business operations: refining, marketing, chemicals, and coke as well as being the general partner of a growing Logistics MLP."
Employees involved in the realignment include:
* Deborah M. Fretz, senior vice president, will have responsibility for all logistics business and will focus on formation of the MLP. She will be named CEO and President of Sunoco Logistics Partner LP.
* Joel H. Maness will assume responsibility for Sunoco's refineries in Toledo, Ohio, and Tulsa, Okla., in addition to his current role as senior vice president of the company's refining business in the northeastern United States. He will also manage Sunoco's lubricants business.
* Robert W. Owens will add responsibility for Sunoco's Mid-America marketing division and its nearly 1,000 retail outlets, to his current role as senior vice president of the company's marketing operations on the East Coast.
Bruce G. Fischer, vice president Sunoco Chemicals, and Michael H.R. Dingus, vice president, Sunoco and president, Sun Coke, continue their current responsibilities for those businesses.