Business Context and Reporting Period
This Form 8-K is a current report filed by Star Gas Partners, L.P. on April 18, 2016. The filing addresses a specific corporate governance event regarding the appointment of a new officer within the company's general partner, Kestrel Heat LLC.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The material change reported is the appointment of Cory A. Czekanski as Vice President – Controller of Kestrel Heat LLC, effective April 18, 2016. Mr. Czekanski assumes the responsibilities of Principal Accounting Officer from Richard G. Oakley, who will remain an officer as Senior Vice President – Accounting.
Management Commentary and Compensation
- Compensation: Mr. Czekanski's base salary is set at $225,000. He is eligible to participate in the partnership's annual discretionary profit sharing allocation and the 401(K) retirement plan.
- Background: Mr. Czekanski joined the partnership in 2015 as Corporate Controller. Prior to that, he worked in KPMG LLP's audit practice from 2000 to 2015. He is a Certified Public Accountant (since 2002) and a graduate of Rutgers University.
- Relationships: There is no family relationship between Mr. Czekanski and any other executive officer or director of Kestrel Heat LLC or Star Gas Partners, L.P.
Investor Verification Checklist
- Verify the effective date of the Principal Accounting Officer transition.
- Confirm the specific terms of the discretionary profit sharing allocation mentioned in the compensation package.
- Review subsequent filings to ensure no further changes to the executive leadership team occurred shortly after this appointment.