Business Context and Reporting Period
This Form 8-K Current Report was filed by Delek Logistics Partners, LP on March 27, 2022. The filing addresses significant executive leadership changes and succession planning within the Partnership and its General Partner, Delek Logistics GP, LLC.
Key Financial Metrics
The filing text does not provide specific financial data, including revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on corporate governance and personnel appointments.
Material Changes
- CEO Succession: Ezra Uzi Yemin, current President and CEO of the General Partner, will transition to Executive Chairman of the Board.
- New CEO Appointment: Avigal Soreq has been appointed as the next President of the General Partner, effective June 2022. He will also succeed Mr. Yemin as President and CEO of Delek US Holdings, Inc.
- New COO Appointment: Todd O'Malley was named Chief Operating Officer of the General Partner effective March 27, 2022, coinciding with his appointment as COO of Delek US.
Management Commentary and Background
Avigal Soreq brings extensive experience, having served as CEO of El Al Israel Airlines since January 2021. Prior to that, he held various executive roles at Delek US and the General Partner from 2012 to 2021, including Executive Vice President, Chief Operating Officer, and Chief Commercial Officer. He is a certified public accountant in Israel.
Todd O'Malley previously served as Executive Vice President and Chief Commercial Officer of Delek US since March 2021. His background includes leadership roles at TKO Energy Enterprises, Citizens Companies, Gulf Oil LP, and PBF Logistics LP.
Investor Verification Checklist
- Confirm the exact effective date of Avigal Soreq's transition to President (June 2022).
- Review the attached press release (Exhibit 99.1) for details on compensation arrangements or specific terms of the succession plan.
- Verify the alignment of leadership changes between Delek Logistics Partners, LP and Delek US Holdings, Inc.
- Check subsequent filings for any impact of these leadership changes on strategic direction or operational performance.