Par Petroleum updates on senior management changes

Par Petroleum Corp.

Par Petroleum Corp. (NYSE MKT: PARR) reports the retirement of Par’s COO, Peter Coxon, who will retire at year’s end but has stepped down from his role as COO of Par and as president of its subsidiary, Texadian Energy Inc., effective Sept. 8, to facilitate a transition of responsibilities. Coxon will stay engaged with the company as a consultant through year’s end to provide for a smooth leadership transition, including continuing to support the completion of the Mid Pac acquisition.

Separately, Par announced that Curt Anastasio, a member of Par’s board of directors, along with its Executive Committee, its Nominating and Corporate Governance Committee, and chairman of the Operations and Technology Committee, has been elected to the additional role of vice chair of the board.  

In addition to his new role at Par, Anastasio is the executive chairman of GasLog Partners LP, a subsidiary of GasLog Ltd (NYSE: GLOG), a growth-oriented international owner, operator, and manager of liquefied natural gas (LNG) carriers. Anastasio previously served as president and CEO of NuStar Energy LP (NYSE: NS), a publicly traded master limited partnership based in San Antonio, Texas. He was the president and CEO of NuStar from the time he led the initial public offering in 2001, until he retired from the company in December 2013.

Additionally, Par announced that William Pate has agreed to join Par Petroleum’s board of directors, subject to necessary modification to the existing Stockholders Agreement and Bylaws. Pate is co-president of Equity Group Investments (EGI), where he has been employed since 1994. EGI is a private investment firm in Chicago founded by Sam Zell, with significant private and public investments in a broad array of industries. Funds managed by EGI affiliates are major stockholders of Par Petroleum.

Pate also serves on the board of directors of Covanta Holding Corp., an international owner/operator of energy-from-waste and power generation facilities. He previously served on the boards of directors of Exterran Holdings Inc., Adams Respiratory Therapeutics, MiddleBrook Pharmaceuticals, CNA Surety Corp., and several private companies associated with EGI.

 

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