Holly Energy Partners (NYSE: HEP) today announced that the Board of
Directors of HLS appointed Mike Jennings, who serves as Chief Executive
Officer of Holly Logistic Services, L.L.C. (“HLS”), as President
effective October 29, 2015. In connection with this appointment, Bruce
Shaw resigned as President of HLS effective October 29, 2015. Mr. Shaw
will continue to work with the company as a consultant. HLS is a
wholly-owned subsidiary of HollyFrontier Corporation (NYSE: HFC) and the
ultimate general partner of HEP.
Separately, Rich Voliva, previously Vice President, Corporate
Development of HLS, was appointed as Vice President and Chief Financial
Officer of HLS effective October 29, 2015. Prior to joining HLS in April
2014, Mr. Voliva worked as an analyst in the institutional investment
business in the energy sector, and prior to that as Vice President,
Energy Equity Research for Deutsche Bank Securities in New York, NY. Mr.
Voliva holds a B.A. in Economics from Harvard University and a M.A. in
International Relations from Johns Hopkins University and is a CFA
Charterholder. Doug Aron will continue to serve as Executive Vice
President of HLS.
Mr. Jennings commented, "I would like to thank Bruce for his 10 years of
service with HEP. I am also excited to have Rich Voliva in a senior
management role where he will work closely with me in continuing HEP's
growth strategy of drop downs, organic growth and external acquisitions.
We look forward to continuing our current momentum, last week having
declared our 44th consecutive quarterly distribution increase."
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides
petroleum product and crude oil transportation, tankage and terminal
services to the petroleum industry, including HollyFrontier Corporation,
which currently owns a 39% interest (including a 2% general partner
interest), in the Partnership. The Partnership owns and operates
petroleum product and crude pipelines, tankage, terminals and loading
facilities located in Texas, New Mexico, Oklahoma, Arizona, Washington,
Kansas, Wyoming, Idaho and Utah. In addition, the Partnership owns a 75%
interest in UNEV Pipeline, LLC, the owner of a Holly Energy operated
refined products pipeline running from Salt Lake City, Utah to Las
Vegas, Nevada, and related product terminals, a 50% interest in Frontier
Pipeline Company, the owner of a 289-mile crude oil pipeline running
from Casper, Wyoming to Frontier Station, Utah, and a 25% interest in
SLC Pipeline LLC, the owner of a 95-mile intrastate pipeline system
serving refineries in the Salt Lake City, Utah area.
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Copyright Business Wire 2015
Source: Business Wire
(October 30, 2015 - 4:17 PM EDT)
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