Business Context and Reporting Period
This Form 8-K filing by MPLX LP, dated July 30, 2014, reports a change in key personnel. The filing concerns the appointment of a new principal accounting officer for the Partnership, effective October 1, 2014.
Key Financial Metrics
This filing does not contain financial performance data. There are no reported figures for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The material change reported is the appointment of Ian D. Feldman as the Partnership's principal accounting officer. Mr. Feldman will replace Michael G. Braddock, who is retiring on October 1, 2014. Mr. Feldman currently serves as the controller of MPLX GP LLC, the General Partner of MPLX LP.
Management Commentary and Risks
Management commentary is limited to the biographical background of the new appointee. Mr. Feldman, age 49, holds degrees from Tufts University and Emory University. His prior experience includes ten years in commercial banking (including nine at Citicorp) and various finance and accounting roles at BP Products North America Inc. following the acquisition of Castrol. No specific risks, contingencies, or unusual items are disclosed in this report.
Investor Verification Checklist
- Verify the effective date of Ian D. Feldman's appointment as principal accounting officer (October 1, 2014).
- Confirm the retirement date of the outgoing officer, Michael G. Braddock.
- Review the compensation structure for Mr. Feldman, noting his eligibility for the Company's and Partnership's incentive plans.
- Check for any subsequent filings regarding the transition of accounting responsibilities.