WHIPPANY, N.J., Nov. 16, 2016 /PRNewswire/ -- Suburban
Propane Partners, L.P. (NYSE: SPH), a nationwide distributor of
propane, fuel oil and related products and services, as well as a
marketer of natural gas and electricity, today announced that, at
its regular meeting held on November 15,
2016, the Partnership's Board of Supervisors unanimously
approved an increase in the number of independent members of the
Board of Supervisors from seven to eight, and elected
Terence J. Connors and
William M. Landuyt to fill the
two vacancies following the increase in the size of the
Board. Both actions are effective as of January 1, 2017.
Messrs. Connors and Landuyt were each elected for a term due to
expire at the next Tri-Annual Meeting of Unitholders of the
Partnership, currently planned for Spring 2018. At that
meeting, under the current Partnership Agreement, all Supervisors
will be elected by the Partnership's Common Unitholders.
Mr. Connors brings to the Board nearly 40 years of public
accounting experience. Mr. Connors retired in September 2015 from KPMG LLP, where he served as
professional practice partner, SEC Reviewing Partner and as a
member of KPMG's board of directors (2011-2015), where he chaired
the Audit, Finance & Operations Committee. Prior to joining
KPMG in 2002, he was a partner with another large international
accounting firm. During his career, he served as a senior audit and
global lead partner for numerous public companies, including
Fortune 500 companies. Mr. Connors currently serves as a director
and audit committee chairman of the largest privately-held
automotive parts remanufacturer in the world.
Mr. Landuyt brings to the Board nearly 40 years of successful
investment and senior executive management experience in a broad
range of public and private businesses across several different
industries, and has held a number of board directorships.
Since 2003, Mr. Landuyt has served as a Managing Director at
Charterhouse Equity Partners, LLC, a private equity firm with a
focus on build-ups, management buyouts, and growth capital
investments primarily in the business services and healthcare
services sectors, and has served on the Boards of Directors of a
number of portfolio companies of that firm. Prior to that he
served as Chairman of the Board, President and Chief Executive
Officer of Millennium Chemicals, Inc. ("Millennium") and from 1983
to 1996 he served in several senior executive positions with Hanson
Industries ("Hanson"), including Vice President and Chief Financial
Officer and ultimately Director, President and Chief Executive
Officer. Hanson and Millennium were both previous owners of
the Partnership or its predecessor through 1996 and 1999,
respectively. Prior to joining Hanson Industries, Mr. Landuyt
served for six years as a Certified Public Accountant and auditor
at Price Waterhouse & Co., where he rose to the position of
Senior Manager. Mr. Landuyt has previously served on the
Boards of Directors (including their Audit and Compensation
Committees) of public companies, including Bethlehem Steel Corp.,
MxEnergy Holdings, Inc., a leading retail marketer of natural gas
and electricity contracts, and Top Image Systems, Inc. Mr.
Landuyt is also the Co-Founder and Executive Director of Celtic
Charms, Inc., a non-profit therapeutic horsemanship center serving
people with physical and cognitive disabilities and disorders.
In announcing these new appointments, Chairman of the
Partnership's Board of Supervisors, Harold
R. Logan, Jr., said, "We are extremely pleased to welcome
Terry Connors and Bill Landuyt to Suburban's Board of Supervisors.
Together they bring to us a wealth of public accounting, senior
executive and Board directorship experience, across a broad range
of industries, which will serve the Partnership well in light of
our long-term strategic growth initiatives."
Suburban Propane Partners, L.P. is a publicly-traded master
limited partnership listed on the New York Stock Exchange.
Headquartered in Whippany, New
Jersey, Suburban has been in the customer service business
since 1928. The Partnership serves the energy needs of
approximately 1.1 million residential, commercial, industrial and
agricultural customers through more than 675 locations in 41
states.
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SOURCE Suburban Propane Partners, L.P.