CFO leaving Magellan Midstream
By SUSAN HYLTON World Business Writer on Sep 17, 2013, at 3:59 PM
Energy
Chesapeake Energy Corp. CEO Doug Lawler on Tuesday acknowledged what many employees have feared.
Developments in Syria and Libya also put downward pressure on oil prices.
CONTACT THE REPORTER
918-581-8381
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John Chandler, chief financial officer for Magellan Midstream Partners LP will be leaving the partnership at the end of March to spend more time with his family, church and community causes, the company announced Tuesday.
“John as been a critical part of Magellan’s success, from playing a key role in the partnership’s initial public offering in 2001 to ensuring we maintain strong financial metrics as Magellan has grown,” said CEO Michael Mears in a statement. “He is well-respected in the financial and investment community, leading Magellan’s fiscal policy that has resulted in consistent value to our unit holders and an industry-leading balance sheet.”
The company said it will immediately start the process to find a replacement to ensure a smooth transition.
Magellan is a publicly-traded partnership that transports, stores and distributes refined petroleum products and crude oil. It’s ticker symbol on the New York Stock Exchange is MMP.
Energy
Chesapeake Energy Corp. CEO Doug Lawler on Tuesday acknowledged what many employees have feared.
Developments in Syria and Libya also put downward pressure on oil prices.
CONTACT THE REPORTER
918-581-8381
Email
