Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On September 30, 2020, the Members of Global GP LLC (the "Company"), the general
partner of Global Partners LP (the "Partnership"), approved expanding the size
of the Company's Board of Directors (the "Board") from seven to eight members
and appointed Mr. Robert W. Owens to fill the newly created directorship serving
on the Board's Audit Committee, Compensation Committee and Conflicts Committee,
effective October 1, 2020 and continuing through December 31, 2021. As of
October 1, 2020, the Board determined that Mr. Owens qualifies as "independent"
under the director independence standards set forth in the rules and regulations
of the Securities and Exchange Commission ("SEC") and the applicable listing
standards of the New York Stock Exchange ("NYSE").
Mr. Owens has over forty years of experience in the energy industry. He was
appointed President and Chief Executive Officer of Sunoco LP upon the company's
sale to Energy Transfer Partners, L.P. in 2012. Mr. Owens helped successfully
grow Sunoco through a series of strategic transactions, including the
acquisition of Susser Holdings Corporation. Mr. Owens joined Sunoco in 1997 and
was responsible for Sunoco's branded business. Additional areas of
responsibility were added over time, including supply and trading of crude and
refined petroleum products, biofuels manufacturing and marketing, and
petrochemicals. During his tenure, Mr. Owens added renewable fuels, compressed
natural gas and electric charging stations at strategic retail outlets to the
Sunoco portfolio. Prior to Sunoco, Mr. Owens served in executive roles for
Ultramar Diamond Shamrock Corporation, Amerada Hess Corporation and Mobil Oil
Corporation. Most recently, Mr. Owens served as a member of the Board of
Directors of Philadelphia Energy Solutions, Inc. (PES) from 2012 through the
sale of the PES refinery to Hilco Redevelopment Partners in June 2020. Mr. Owens
received a bachelor's degree in business administration from California
Polytechnic State University and an MBA from the Kellogg Graduate School of
Management at Northwestern University.
Mr. Owens will participate in the Company's standard independent director
compensation program. Pursuant to this program, Mr. Owens will receive
compensation in connection with his service on the Board and the Board's Audit
Committee, Compensation Committee and Conflicts Committee consistent with
compensation received by the independent directors in 2020 as disclosed in the
Partnership's Annual Report on Form 10-K for the year ended December 31, 2019.
Item 7.01. Regulation FD Disclosure
On October 5, 2020, the Partnership issued a press release announcing the
appointment of Mr. Owens to the Board. A copy of the press release announcing
the appointment of Mr. Owens to the Company's Board is attached hereto as
Exhibit 99.1 and is incorporated by reference into this Item 7.01.
The information furnished pursuant to Item 7.01 in this report on Form 8-K,
including Exhibit 99.1, shall not be deemed to be "filed" for the purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), or otherwise subject to the liability of that section, unless the
Partnership specifically states that the information is to be considered "filed"
under the Exchange Act or incorporates it by reference into a filing under the
Securities Act of 1933 or the Exchange Act.
Item 9.01. Financial Statements and Exhibits
(d) Exhibit
99.1* Press Release issued by the Company on October 5, 2020
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
* Furnished herewith
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