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September 02, 2015 11:34 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Tesoro Logistics GP, LLC

Company Overview

Tesoro Logistics GP, LLC operates as a general partner of Tesoro Logistics LP, which owns, operates, develops, and acquires logistics assets related to crude oil and refined products in the United States. The company was incorporated in 2010 and is based in the United States. Tesoro Logistics GP, LLC operates as a subsidiary of Tesoro Corporation.

,  

United States

Founded in 2010

Key Executives for Tesoro Logistics GP, LLC

Chief Financial Officer, Vice President and Director
Age: 43
Vice President of Operations
Age: 47
Principal Accounting Officer, Vice President and Controller
Age: 45
Vice President, General Counsel and Secretary
Age: 57
Compensation as of Fiscal Year 2015.

Tesoro Logistics GP, LLC Key Developments

Tesoro Logistics GP, LLC Announces Executive Changes

Arlen O. Glenewinkel, the Vice President and Controller of Tesoro Logistics GP, LLC, will cease to serve as TLGP's principal accounting officer effective March 2, 2015. On March 2, 2015, the Board of Directors of TLGP appointed Tracy D. Jackson, age 45, as Vice President and Controller of TLGP effective immediately. Ms. Jackson will assume the role of principal accounting officer. She is concurrently being appointed as Vice President and Controller of Tesoro Corporation, and of QEP Midstream Partners GP, LLC. Ms. Jackson has served as Vice President, Analytics and Financial Planning of Tesoro Companies Inc., since September 2013. From February 2011 to September 2013, Ms. Jackson served as Vice President and Treasurer of Tesoro. Additionally Ms. Jackson served as Vice President and Treasurer of the Partnership from April 2012 until September 2013.

Tesoro Logistics GP, LLC Appoints Don Sorensen as Vice President, Operations; Declares Quarterly Cash Distribution Payable on February 13, 2015

Tesoro Logistics LP announced the appointment of Don Sorensen, age 47, as Vice President, Operations of Tesoro Logistics GP LLC effective January 22, 2015. In this role, Mr. Sorensen will assume responsibility for the Partnership's operations. This appointment replaces Keith Casey who has served as Vice President, Operations since July 24, 2014. Mr. Casey will continue to serve on the Board of Directors of TLGP. Tesoro Logistics LP announced the declaration of its quarterly cash distribution for the fourth quarter 2014 of $0.6675 per limited partnership unit, or $2.67 on an annualized basis. This distribution represents a 4% increase over the quarterly distribution of $0.6425 per unit ($2.57 per unit on an annualized basis) paid in November 2014. The fourth quarter distribution will be paid February 13, 2015, to all unit holders of record as of February 2, 2015. In the prior four quarters, TLLP has increased its distribution to limited partners by 18%.

Tesoro Logistics GP, LLC Announces Executive Changes

G. Scott Spendlove, the vice president and chief financial officer of Tesoro logistics GP, LLC(TLGP), will cease to serve as TLGP’s principal financial officer, effective August 18, 2014. Mr. Spendlove will continue to serve as a vice president of TLGP through August 31, 2014, and will cease to be a director of TLGP as of such date. The partnership announced the appointment of Steven M. Sterin, as vice president and chief financial officer of TLGP, effective August 18, 2014. He is concurrently being appointed as executive vice president and chief financial officer of Tesoro Corporation. Mr. Sterin will be appointed as a member of the board effective September 1, 2014.

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