SemGroup Corp. (NYSE:SEMG) reports that Norman J. Szydlowski, who has served as the company's president and CEO since November 2009, will retire once a successor is named and in place. Additionally, at that time, Szydlowski will retire from his position as president and CEO of Rose Rock Midstream LP (NYSE:RRMS), a growth-oriented Delaware limited partnership formed by SemGroup to own, operate, develop and acquire a diversified portfolio of midstream energy assets. Szydlowski will continue to serve in his current capacities to ensure an orderly transition.
SemGroup's board of directors has initiated a comprehensive search process to identify a successor, considering both internal and external candidates. The company has retained Russell Reynolds Associates, a leading executive recruiting firm, to assist in the process, and Szydlowski will work with the board to help identify his successor.
Based in Tulsa, Oklahoma, SemGroup is a publicly traded midstream service company that provides diversified services for end-users and consumers of crude oil, natural gas, natural gas liquids, refined products and asphalt. Services include purchasing, selling, processing, transporting, terminaling and storing energy.
Rose Rock Midstream provides crude oil gathering, transportation, storage and marketing services. Headquartered in Tulsa, the company has operations in six states with the majority of its assets strategically located in, or connected to, the Cushing, Oklahoma, crude-oil marketing hub.