Sunoco LP Announces New Leadership

DALLAS — Sunoco LP has named its new CEO to take office after Bob Owens, current CEO, retires at the end of the year.

Joe Kim, who has been serving as president and chief operating officer (COO) since June, will take the reins on Jan. 1. Owens steps down Dec. 31, and will continue to serve as a consultant to the Sunoco LP through 2019.

Prior to his most recent appointment, Kim was executive vice president and chief development officer for Sunoco from October 2015 to this June. He was responsible for all business development, and merger and acquisition activities across the partnership.

Previously, Kim held the position of COO at Pizza Hut, where he was responsible for management of all operations, with an emphasis on speed to market and restaurant excellence.

Prior to that, he worked for 15 years at Valero Energy where his most recent position was senior vice president of strategy and growth. He also held roles in field and franchise operations, strategic planning, merchandising, development and investor relations.

He began his career with Arthur Andersen Business Consulting.

"I would like to extend a heartfelt thank you to Bob for his more than 20 years of service to Sunoco. We are grateful for his strategic leadership and wish him well as he embarks on his new endeavor," said Matthew S. Ramsey, chairman of the board of Sunoco LP. "Bob is leaving Sunoco in good hands. Joe is an exceptionally talented leader and he is poised to successfully complete the transformation of the partnership from a retail-based business into the premier U.S. fuel supplier."

Sunoco LP is a master limited partnership that operates 1,346 convenience stores and retail fuel sites and distributes motor fuel to 7,898 convenience stores, independent dealers, commercial customers and distributors located in 30 states. Dallas-based Energy Transfer Equity LP owns Sunoco's general partner and incentive distribution rights.