Business Context and Reporting Period
This Form 8-K was filed by MPLX LP on October 3, 2018, reporting events occurring on October 1, 2018. The filing addresses corporate governance changes following the completion of Marathon Petroleum Corporation's (MPC) acquisition of Andeavor.
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 a corporate governance event rather than financial performance.
Material Changes
The primary material change reported is the appointment of Gregory J. Goff to the board of directors of MPLX GP LLC (the General Partner of MPLX LP). This appointment followed the closing of the merger between MPC and Andeavor, where Andeavor became a wholly owned subsidiary of MPC.
Management Commentary and Governance Details
- Appointment: Gregory J. Goff was appointed to the Board of the General Partner on October 1, 2018.
- Background: Mr. Goff is the former Chairman, President, and CEO of Andeavor and the former Chairman and CEO of the general partner of Andeavor Logistics LP. He currently serves as Executive Vice Chairman of MPC.
- Compensation: Mr. Goff will not receive compensation for his services as a director due to his existing role at MPC.
- Committee Service: Mr. Goff is not expected to serve on any standing committees of the Board.
Investor Verification Checklist
- Confirm the effective date of Gregory J. Goff's board appointment (October 1, 2018).
- Verify the compensation structure for Mr. Goff (uncompensated due to MPC role).
- Review the completed merger structure between MPC and Andeavor to understand the corporate hierarchy.
- Check for any subsequent filings regarding committee assignments for Mr. Goff.