Today, AmeriGas Propane, Inc. (“AmeriGas” or the “General Partner”), the
general partner of AmeriGas Partners, L.P. (NYSE: APU), announced that
Jerry E. Sheridan has elected to leave the position of President and
Chief Executive Officer and Hugh J. Gallagher, currently AmeriGas Vice
President, Finance and Chief Financial Officer, has been appointed to
the President and Chief Executive Officer position, effective September
18, 2018. Mr. Sheridan has also resigned as a director of the General
Partner but will remain an employee of AmeriGas until January 2019 to
assist with the transition.
John L. Walsh, President and Chief Executive Officer of UGI Corporation
(“UGI”), the ultimate parent of the General Partner, stated, “We thank
Jerry for his more than 13 years of service with AmeriGas and we wish
him well in his future endeavors. During Jerry’s tenure with the
Company, we completed over 90 acquisitions and achieved an increase of
total unitholder return of more than 280%, a compound annual growth rate
of over 10%, outpacing the Alerian MLP index and the S&P 500 index. We
are pleased to have Hugh step into the President and CEO role. Hugh’s
more than 25-year history with the Company will position him well to
lead AmeriGas as we head into the 2018-2019 winter heating season.”
Mr. Gallagher has held the position of Vice President, Finance and Chief
Financial Officer since May 2013. Since joining UGI in 1990, Mr.
Gallagher has served both UGI and AmeriGas in various finance,
accounting and operations roles, including Treasurer, Director of
Treasury Services and Investor Relations and Director, Business
Development. UGI Chief Financial Officer, Ted J. Jastrzebski, will serve
as AmeriGas principal financial officer on an interim basis until Mr.
Gallagher’s successor is named.
In addition, UGI announced the appointment of Roger Perreault to the
newly created position of Executive Vice President, Global LPG,
effective October 1, 2018. In his new role, Mr. Perreault will lead the
Company’s LPG distribution businesses, conducted through AmeriGas
Propane, L.P. and UGI International, LLC and their subsidiaries. Mr.
Gallagher will report to Mr. Perreault. Mr. Perreault joined UGI in
November 2015 as President of UGI International and he will continue to
serve in that role. Mr. Perreault spent 21 years with Air Liquide,
serving in various leadership positions, including in a global role as
President, Large Industries and, prior to that, in a role with
responsibility for Air Liquide’s North American large industries
business. Mr. Walsh added, “The creation of Roger’s new role will allow
us to better support strategic initiatives, accelerate growth, drive
efficiencies and foster best practice sharing across UGI’s LPG
businesses. We believe a strong and close collaboration between Roger
and Hugh will enhance our ability to execute on the strategic
opportunities that are critical to our future.”
About AmeriGas
AmeriGas is the nation’s largest retail propane marketer, serving over
1.8 million customers in all 50 states from approximately 1,900
distribution locations. UGI Corporation, through subsidiaries, is the
sole General Partner and owns 26% of the Partnership and the public owns
the remaining 74%.
Comprehensive information about AmeriGas is available on the Internet at http://www.amerigas.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180917005768/en/
Copyright Business Wire 2018
Source: Business Wire
(September 17, 2018 - 4:40 PM EDT)
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