Elsenhans Leaves Sunoco Shedding Refineries for Pipelines
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Sunoco Inc. Chief Executive Officer Lynn Elsenhans is stepping down after spending almost four years selling or shuttering two-thirds of the 121-year-old refiner’s assets to focus its business on oil pipelines and fuel retailing.
The 55-year-old former executive of Royal Dutch Shell Plc took the helm at Sunoco in 2008, when fuel demand had slumped the most in 27 years. She fired workers, sold or idled all five of the company’s refineries and spun off business units that incurred more than $1.2 billion in losses on her watch.