MPLX LP Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by MPLX LP on August 22, 2016. The filing addresses Item 5.02 regarding the departure of a principal officer and the appointment of a successor within the Partnership's general partner, MPLX GP 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
- Departure: John C. Mollenkopf, Executive Vice President and Chief Operating Officer of MarkWest Operations, notified the Partnership of his retirement effective October 1, 2016.
- Appointment: Gregory S. Floerke, currently Executive Vice President and Chief Commercial Officer of MarkWest Assets, will assume the role of Executive Vice President and Chief Operating Officer of MarkWest Operations effective October 1, 2016.
- Scope: In his new role, Mr. Floerke will serve as the principal operating officer for MarkWest Energy Partners, L.P.
Guidance, Outlook, and Management Commentary
Mr. Floerke's compensation will not change in connection with this appointment and is described in the Partnership's Annual Report on Form 10-K for the year ended December 31, 2015. The filing contains no financial guidance, risk factors, or contingencies related to this personnel change.
Key Facts for Investor Verification
- Confirm the effective date of the leadership transition (October 1, 2016).
- Review the 2015 Form 10-K for details on Mr. Floerke's compensation package.
- Verify Mr. Floerke's prior tenure at MarkWest (since 2013) and previous roles at Access Midstream Partners and One Communications Corp.