September 30, 2014 7:40 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Sunoco, Inc.

Company Overview

Sunoco, Inc., through its subsidiaries, refines and markets petroleum products in the United States. Its Logistics segment operates refined product and crude oil pipelines and terminals; and acquires and markets crude oil and refined products. As of December 31, 2011, this segment owned and operated approximately 5,400 miles of crude oil pipelines and approximately 2,500 miles of refined product pipelines. It also operates 42 active terminals that receive refined products from pipelines and distribute them to third parties. The company’s Retail Marketing segment engages in the retail sale of gasoline and middle distillates; and operates of convenience stores under APlus brand name. This segm...

1735 Market Street

Suite LL

Philadelphia, PA 19103-7583

United States

Founded in 1886

10,500 Employees

Phone:

215-977-3000

Fax:

215-977-3409

Key Executives for Sunoco, Inc.

Chief Executive Officer and President
Age: 60
Chief Financial Officer and Director
Age: 42
Senior Vice President
Age: 58
Compensation as of Fiscal Year 2014.

Sunoco, Inc. Key Developments

Palm Coast Woman Sues Sunoco, Inc. over Daughter's Death

A Palm Coast woman whose 17-year-old daughter was killed last summer in a crash on Interstate 95 has sued the gas and convenience store that the woman claims sold her daughter the alcohol that prevented her from making 'a safe and informed decision' about getting into a pickup driven by a friend under the influence of marijuana. Smith's mother Kathleen Smith, who is represented by Rue, Ziffra & Caldwell, filed the lawsuit against Sunoco Inc. and the estate of Lane Burnsed and his father James A. Burnsed Jr. Meredith Smith's blood alcohol content was 0.081, the lawsuit states. The legal limit is 0.08. On the day of the accident, Smith bought alcohol at the Sunoco at 703 U.S. Highway 1 in Bunnell and then drank at least some before getting in the pickup with Burnsed and another person. As a result of consuming the alcoholic beverages sold to her by the Defendant, Sunoco Inc.'s employees or agents, Meredith Smith became intoxicated and incapable of making a safe and informed decision as to whether to travel in a motor vehicle with another minor individual who had been under the influence of marijuana.

Shell Oil Company and Sunoco, Inc. to Pay $35 Million in MTBE Suit

Shell Oil Company and Sunoco, Inc. are paying the state of New Hampshire a total of $35 million to settle pending claims from a lawsuit alleging that they added MTBE to gasoline, knowing that it would contaminate ground water supplies. The state, which sued the companies and others in 2003, contends they knew they were supplying a product with unique hazards -- specifically, that MTBE travels father and is more difficult to clean up than other contaminants.

Sunoco, Inc. Announces Management Changes; Terminates Its $800 Million Secured Revolving Credit Agreement; Amends and Restated Its Articles of Incorporation and Bylaws

Sunoco, Inc. announced at the effective time of the merger, each of the members of the company's board of directors resigned from the board and ceased to be directors of the company. The members of the company's board immediately prior to the effective Time of the Merger were Messrs. John P. Jones, III, Chris C. Casciato, James G. Kaiser, William H. Easter, III, Gary W. Edwards, John K. Wulff and Mmes Irene C. Britt and Ursula O. Fairbairn. effective on October 5, 2012, the individuals were elected to the company's board of directors: Kelcy Warren, Marshall S. (Mackie) McCrea, III, John W. McReynolds, Thomas P. Mason and Martin Salinas, Jr. At the effective time of the merger, the officers of the company were replaced with officers of merger sub pursuant to the terms of the merger agreement: Brian P. MacDonald, President and Chief Executive Officer; Michael J. Colavita, Senior Vice President and Interim Chief Financial Officer; Joseph P. Krott, Comptroller; Stacy L. Fox, Senior Vice President, General Counsel and Secretary; and Dennis Zeleny, Senior Vice President and Chief Human Resources Officer. Effective on October 5, 2012, Robert W. Owens was appointed President and Chief Executive Officer of the company, Martin Salinas, Jr. was appointed Chief Financial Officer and Thomas P. Mason was appointed Senior Vice President, General Counsel and Secretary. On October 5, 2012, the company terminated its $800 million secured revolving credit agreement (the Credit Agreement), which was entered into on November 22, 2011 with a syndicate of banks and financial institutions, including JP Morgan Chase Bank, N.A., as administrative agent. The Credit Agreement had a final maturity date of November 22, 2012, and at the time of termination, no borrowings were outstanding thereunder. Simultaneous with the termination of the Credit Agreement, the company terminated the Pledge and Security Agreement, the Pledge Agreement and the other collateral documents pursuant to which the company's obligations under the Credit Agreement were secured by certain of the company's assets. On October 5, 2012, the company amended and restated its articles of incorporation and bylaws.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 25, 2014
Mid-Atlantic Convenience Stores, LLC
Merger/Acquisition
October 2, 2013
Mid-Atlantic Convenience Stores, LLC
 

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