Holly Energy Partners Announces Officer Retirement

Rhea-AI Summary

Holly Energy Partners, L.P. (NYSE:HEP) announced the retirement of Mark Cunningham as Senior Vice President, Operations and Engineering, effective February 2022. Joining the company in 2004, Cunningham's contributions were pivotal to the company's performance and growth. His responsibilities will transition to four individuals starting January 1, 2022, and he will serve as a consultant for one year post-retirement. HEP specializes in petroleum product transportation, storage, and terminalling services across multiple states.

Positive

• Mark Cunningham's leadership since 2004 has significantly contributed to HEP's growth and performance.
• Smooth transition plan in place with responsibilities assigned to four individuals.

Negative

• None.

DALLAS--(BUSINESS WIRE)-- Holly Energy Partners, L.P. (NYSE:HEP) announced today that Mark Cunningham has notified the Board of Directors of Holly Logistic Services, L.L.C. (“HLS”), the ultimate general partner of HEP, that he will retire as Senior Vice President, Operations and Engineering of HEP in February 2022. Mr. Cunningham joined HEP in 2004 and held roles of increasing responsibility prior to his appointment to his current role.

Mike Jennings, CEO of HEP, said, “Mark has been instrumental to the performance, culture and growth of HEP since its initial public offering in 2004. On behalf of HEP, I want to thank him for his contributions and wish him the best going forward.”

In connection with Mr. Cunningham’s retirement, his responsibilities will be transferred to four individuals at the company, effective January 1, 2022. To assist with the transition of his responsibilities, Mr. Cunningham has agreed to serve as a consultant for a 12 month period following his retirement.

About Holly Energy Partners, L.P.:

Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HollyFrontier Corporation subsidiaries. Holly Energy, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude gathering pipelines, tankage and terminals in Texas, New Mexico, Washington, Idaho, Oklahoma, Utah, Nevada, Wyoming and Kansas as well as refinery processing units in Kansas and Utah.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211029005082/en/

Holly Energy Partners, L.P.

Craig Biery, 214-954-6511

Vice President, Investor Relations

or

Trey Schonter, 214-954-6511

Investor Relations

Source: Holly Energy Partners, L.P.

FAQ

What are the implications of Mark Cunningham's retirement for Holly Energy Partners (HEP)?

Mark Cunningham's retirement may impact leadership dynamics, but HEP has a transition plan to ensure continuity.

When is Mark Cunningham retiring from HEP?

Mark Cunningham is set to retire in February 2022.

Who will take over Mark Cunningham's responsibilities at HEP?

His responsibilities will be transferred to four individuals effective January 1, 2022.

What services does Holly Energy Partners (HEP) provide?

HEP provides petroleum product and crude oil transportation, terminalling, storage, and throughput services.

What is the stock symbol for Holly Energy Partners?

The stock symbol for Holly Energy Partners is HEP.

What is the relationship between HEP and HollyFrontier Corporation (HFC)?

HEP provides services to subsidiaries of HollyFrontier Corporation.