TULSA, Okla. – Magellan
Midstream Partners, L.P. (NYSE: MMP) announced today that Michael Osborne will join
the partnership to replace John Chandler, current chief financial officer, upon
Chandler’s previously-announced departure from the company on March 31, 2014.
Osborne has more than
23 years experience in the energy industry with extensive experience in SEC
reporting, debt and equity offerings, mergers and acquisitions and technical
accounting and financial matters. He has spent his entire career with Ernst
& Young LLP, serving as an audit partner for the past 11 years. Osborne
holds a bachelor’s degree in accounting from the University of Oklahoma and is
a certified public accountant.
“We look forward to
Mike joining Magellan’s senior management team and know his strong background
in energy accounting, SEC reporting and financing transactions will be an
important asset for our firm,” said Michael Mears, chief executive officer. “Our
management team and board of directors have worked closely with Mike over the years,
and we are confident his conservative nature, extensive experience and
familiarity with our accounting policies and business will fit nicely with
Magellan’s disciplined financial philosophy.”
Osborne will join the
partnership on Nov. 18, 2013, transitioning to the chief financial officer role
in late March 2014.
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, actual
outcomes may 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.