TULSA, Okla. – Magellan
Midstream Partners, L.P. (NYSE: MMP) announced today that its chief financial
officer, John Chandler, has provided notice that he intends to leave the
partnership effective March 31, 2014 to spend additional time with his family and
church and community causes.
“John has 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 Michael Mears, chief executive
officer. “He is well-respected in the financial and investment community,
leading Magellan’s fiscal policy that has resulted in consistent value to our
unitholders and an industry-leading balance sheet. We thank John for his many
contributions and congratulate him as he begins a new chapter in his life to
pursue his personal passions.”
The partnership will
begin the process immediately to seek a replacement for Mr. Chandler to ensure
a smooth transition.
About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly
traded partnership that primarily transports, stores and distributes refined
petroleum products and crude oil. The partnership owns the longest refined
petroleum products pipeline system in the country, with access to more than 40%
of the nation’s refining capacity, and can store over 80 million barrels of
petroleum products such as gasoline, diesel fuel and crude oil. More
information is available at www.magellanlp.com.
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Portions of this document may constitute
forward-looking statements as defined by federal law. Although management
believes any such statements are based on reasonable assumptions, there is no
assurance that actual outcomes will not be materially different. Additional
information about issues that could lead to material changes in performance is
contained in the partnership’s filings with the Securities and Exchange
Commission.