TULSA, Okla. – Magellan Midstream Holdings, L.P. (NYSE: MGG ) announced that Walter R. Arnheim has been elected an independent member of its general partner's board of directors. He also will serve on the board's audit and compensation committees.
Arnheim is the retired treasurer of Mobil Corporation. He began his career with Mobil in 1968 and subsequently held a variety of positions, including vice president of planning and economics for the corporation and chief financial officer for Mobil's exploration and producing division. He was named treasurer in 1995, retiring from that position in 2000 following Mobil's merger with Exxon.
“Walter's energy-related experience in both finance and strategic planning will be very beneficial to Magellan Midstream Holdings,” said Don Wellendorf, chief executive officer.
Arnheim received a bachelor's degree in chemical engineering from University of Pittsburgh and a master's degree in business administration from Columbia University.
The election of Arnheim brings the total number of board members to six. The board intends to elect two additional independent directors in the near future.
About Magellan Midstream Holdings, L.P.
Magellan Midstream Holdings, L.P. is a limited partnership formed to own and control Magellan GP, LLC, the general partner of Magellan Midstream Partners, L.P. (NYSE: MMP). Magellan GP, LLC currently owns a 2% general partner interest and 100% of the incentive distribution rights in Magellan Midstream Partners, L.P. More information is available at http://www.mgglp.com.
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Portions of this document may constitute forward-looking statements as defined by federal law. Although the partnership believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Additional information about issues that could lead to material changes in performance is contained in the partnership's filings with the Securities and Exchange Commission.
Contact Information:
| Paula Farrell | Magellan Midstream Holdings, L.P. Investor Relations | 918-574-7650 | paula.farrell@magellanlp.com |
