Sunoco Restructures Leadership

Philadelphia, Pa.-based Sunoco Inc. said it’s making several changes in the roles and responsibilities of key members of its senior leadership team, including the retirements of two employees.

Sunoco CEO and President Lynn Elsenhans said the changes are a reflection of Sunoco’s “commitment to build a better, stronger organization as we face unprecedented challenges in the refining industry and the overall economy.

“Volatility in crude oil markets, changing demand for gasoline and distillate products, and new refining capacity being added throughout the world mean that Sunoco has to take steps now to strengthen its position for long-term growth,” Elsenhans said.

Four management-level employees whose roles will change include:

  • Vincent J. Kelley, Senior Vice President Refining and Supply: Kelley, 48, has assumed responsibility for crude oil and refined product supply, trading, sales and transportation. Kelley has been responsible for Sunoco’s refining operations since February 2006.
  • Michael J. Hennigan, Senior Vice President Business Improvement: Hennigan, 49, will lead a new company-wide effort to improve Sunoco’s cost structure and business process efficiency. Prior to assuming this new role, Hennigan had been responsible for crude oil and refined product supply, trading, sales and transportation.
  • Bruce G. Fischer, Senior Vice President Strategy and Portfolio: Fischer, 53, has assumed responsibility for strategic planning and business development. He will focus on developing strategic options for Sunoco’s businesses and executing portfolio changes, including joint ventures, mergers, acquisitions, and divestitures. Prior to assuming this new role, Fischer had been responsible for Sunoco’s chemicals business.
  • Bruce D. Rubin, Vice President Chemicals: Rubin, 52, has assumed responsibility for Sunoco’s chemicals business, including polymers, phenol and related products, and petrochemicals. Prior to assuming this new role, Rubin had been responsible for the polymers business.

    The two retiring employees are Thomas Hofmann and Rolf Naku.

    Hofmann, 57, Sunoco’s senior vice president and chief financial officer, has elected to retire effective Dec. 1, 2008. Hofmann was elected to his current position in January 1998.

    Rolf Naku, senior vice president human resources and public affairs, has also elected to retire effective Dec. 1, 2008. Naku, 58, was elected to his current position in January 2003. If a successor has not been named for either of their vacant positions at the time of their retirements, an interim appointment will be announced.

    “I congratulate Vince Kelley, Mike Hennigan, Bruce Fischer and Bruce Rubin on their new roles within the company,” Elsenhans said. “I also thank Tom Hofmann and Rolf Naku for their many contributions to Sunoco over their distinguished careers.

    To meet future challenges and ensure that the company continues to increase shareholder value, Sunoco said it’s embarking on a company-wide effort to review its portfolio of assets, improve business processes and establish a more competitive cost structure. Sunoco has engaged McKinsey Inc., a management-consulting firm, to assist in this process.

    "As the review of assets and business processes proceeds, we will continue to focus on getting the most value out of our assets,” Elsenhans said. “Sunoco also remains committed to being a good neighbor and operating all of our facilities in a safe, reliable and environmentally sound manner.”

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