Business Context and Reporting Period
This Form 8-K filing by Suburban Propane Partners, L.P. is dated November 14, 2013. The report addresses a significant management succession plan involving the departure of the current Chief Executive Officer and the appointment of a new President.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and personnel changes rather than financial performance data.
Material Changes
- Executive Departure: Michael J. Dunn, Jr., President and CEO, will relinquish the role of President on March 31, 2014, and retire as CEO on September 27, 2014.
- Executive Appointment: Michael A. Stivala, current Chief Financial Officer, will assume the role of President effective April 1, 2014.
- Transition Plan: A 10-month transition period is planned to ensure a smooth leadership handover between Mr. Dunn and Mr. Stivala.
Guidance, Outlook, and Risks
Management commentary indicates a focus on continuity through a structured transition period. The filing notes that Mr. Stivala's compensation for his new role as President has not yet been established. No specific financial guidance, risks, or contingencies regarding operations are detailed in this document.
Investor Verification Checklist
- Verify the exact retirement date of Michael J. Dunn, Jr. (September 27, 2014).
- Confirm the start date for Michael A. Stivala as President (April 1, 2014).
- Monitor future filings for the establishment of Mr. Stivala's compensation package.
- Review the attached Press Release (Exhibit 99.1) for additional details on the succession strategy.